Ambarella (AMBA) PT Raised to $120 at Baird
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Ambarella (AMBA) stock drops 7% on weak forecast, analyst downgrades to Neutral
March 1, 2023 9:10 AM ESTAmbarella (NASDAQ: AMBA) shares are down almost 7% in pre-market after the company offered the first-quarter forecast that trailed analyst estimates.
Ambarella reported EPS of $0.23 on revenue of $83.3 million, beating the consensus for earnings of $0.14 on revenue of $83M. Revenue declined nearly 8% year-to-year while the adjusted gross margin declined by 130 basis points YoY to 63.5%.
We achieved significant milestones in fiscal 2023 towards our transformation to an edge AI company, said Fermi Wang, President and... More
