Ambarella (AMBA) PT Raised to $119 at BofA Securities
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Ambarella (AMBA) Shares Gain 16% After Topping Q3 and Guidance Views, Analysts Positive on Auto Industry Sales Acceleration
December 1, 2021 7:47 AM ESTShares of Ambarella (NASDAQ: AMBA) are up nearly 17% in pre-open after the company reported better-than-expected Q3 results.
Ambarella reported Q3 EPS of $0.57 to top the analyst estimate of $0.49. Revenue for the quarter came in at $92.2 million versus the consensus estimate of $90.35 million.
For this quarter, revenues are seen between $88.5 million and $91.5 million, again higher than the consensus of $88.22 million.
Im pleased with our progress in Q3, with positive operating leverage driving non-GAAP operating margins into the 20% range. Our operational execution remains strong, yet supply... More
