Why Ambarella, Inc. Stock Popped Today
Shares of Ambarella Inc. (NASDAQ: AMBA) are up 16.4% as of 12:30 p.m. EST Friday after the video processing chip specialist announced better-than-expected fiscal third-quarter 2018 earnings.
More specifically, Ambarella's revenue declined 11.4% year over year to $89.1 million, within Ambarella's guidance provided last quarter for revenue between $87.5 million and $90.5 million. Trending toward the bottom line, Ambarella's adjusted gross margin arrived at 64%, above guidance for between 62% and 63.5%. That translated to adjusted net income of $25.7 million, or $0.75 per diluted share, above investors' expectations for earnings of $0.67 per share.
IMAGE SOURCE: AMBARELLA
Source: Fool.com
Ambarella Inc. Stock
€72.74
3.000%
Ambarella Inc. is currently one of the favorites of our community with 18 Buy predictions and no Sell predictions.
As a result the target price of 86 € shows a slightly positive potential of 18.23% compared to the current price of 72.74 € for Ambarella Inc..
