Ambarella Gets a Buy Rating from Stifel Nicolaus

By Ryan Adsit

In a report released today, Kevin Cassidy from Stifel Nicolaus reiterated a Buy rating on Ambarella (NASDAQ: AMBA), with a price target of $64. The company’s shares closed yesterday at $59.72.

According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 24.6% and a 75.4% success rate. Cassidy covers the Technology sector, focusing on stocks such as Everspin Technologies Inc, Advanced Micro Devices, and Synaptics Inc.

Currently, the analyst consensus on Ambarella is Moderate Buy and the average price target is $67.40, representing a 12.9% upside.

In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a $72 price target.

The company has a one year high of $74.95 and a one year low of $46.80. Currently, Ambarella has an average volume of 819.8K.

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Ambarella, Inc. engages in the development of video compression and image processing solutions. Its products are used in a variety of professional and consumer applications, which include security IP-cameras, wearable cameras, flying cameras, and automotive video processing solutions. The company was founded by Feng-Ming Wang and Leslie D. Kohn on January 15, 2004 and is headquartered in Santa Clara, CA.