Ambarella Shares Down 5% on Weak Guidance, While Q2 Slightly Better Than Expected
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Ambarella (AMBA) PT Lowered to $104 at Jefferies
August 31, 2022 8:58 AM EDTJefferies analyst David Kelley lowered the price target on Ambarella (NASDAQ: AMBA) to $104.00 (from $122.00) while maintaining a Buy rating following earnings.
The analyst commented, "2Q adj. EPS of $0.20 was below our est. of $0.22, but modestly above consensus of $0.19. Midpoint of 3Q sales guide tracked below... More
