Roth Capital Sees 3 Incremental Areas of Growth from Ambarella's (AMBA) Analyst Day at CES

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Roth Capital analyst Suji Desilva reiterated a Buy rating and $260.00 price target on Ambarella (NASDAQ: AMBA) after attending the analyst day event at CES Las Vegas, where attendance was healthy with strong interest in the company’s newest CV3 product and recent radar acquisition.
The analyst stated "Most prominently AMBA emphasized three incremental areas of growth: 1) new CV3 domain controller product family, 2) radar Oculii acquisition opportunity, and 3) incremental software monetization. Management estimated a longer-term radar software SAM of ~$600m over the next few years. AMBA has confidence in its ability to grow radar revenue due to highly differentiated plans to tightly fuse radar/camera data close to the point of ingest. In addition to radar software, AMBA has plans to monetize its automotive Drive Stack algorithms going forward. We note that AMBA has strong revenue visibility with automotive pipeline have tripled y/y to $1.8bn. Encouragingly, radar and stack software sales remain upside to this pipeline number."
For an analyst ratings summary and ratings history on Ambarella click here. For more ratings news on Ambarella click here.
Shares of Ambarella closed at $165.40 yesterday.
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