I hate it when this happens! AMBA beats on EPS (48% growth rate), beats on Revenue ( (42% growth rate) and because the “Camera on a Stick” company isn’t hitting targets the stock gets clobbered,
This is easy, AMBA will increase sales to auto makers and security companies de-linking from GPRO , stock is a buy here, my target is $110 to $120 a share.
GPRO is death warmed over, avoid this stock.
TGIF!
For the period ended Oct. 31, Ambarella earned $1.08 a share, up from 68 cents a share a year earlier as revenue grew 42% to $93.2 million. Analysts had expected per share profit of 86 cents on $89.9 million in revenue.
But for the ongoing 4Q that ends in January, the company said it expects revenue to range between $65 million and $67.5 million, well below the $76.3 million forecast by analysts.
Ambarella blamed the shortfall on weakness in the wearable camera market
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