Ambarella Inc. [NASDAQ: AMBA] stock went on a downward path that fall over -20.37% on Wednesday, amounting to a one-week price decrease of less than -15.89%. The company report on August 29, 2023 at 4:05 PM that Ambarella, Inc. Announces Second Quarter Fiscal Year 2024 Financial Results.
Revenue for the second quarter of fiscal 2024 was $62.1 million, down 23% from $80.9 million in the same period in fiscal 2023. For the six months ended July 31, 2023, revenue was $124.3 million, down 27% from $171.2 million for the six months ended July 31, 2022.
Over the last 12 months, AMBA stock dropped by -28.65%. The one-year Ambarella Inc. stock forecast points to a potential upside of 34.1. The average equity rating for AMBA stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.36 billion, with 39.34 million shares outstanding and 37.21 million shares in the current float. Compared to the average trading volume of 564.89K shares, AMBA stock reached a trading volume of 8056074 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ambarella Inc. [AMBA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMBA shares is $91.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMBA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Ambarella Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 30, 2023.
The Average True Range (ATR) for Ambarella Inc. is set at 3.78, with the Price to Sales ratio for AMBA stock in the period of the last 12 months amounting to 7.63. The Price to Book ratio for the last quarter was 3.92, with the Price to Cash per share for the same quarter was set at 5.81. Price to Free Cash Flow for AMBA in the course of the last twelve months was 118.09 with Quick ratio for the last quarter at 3.30.
AMBA Stock Performance Analysis:
Ambarella Inc. [AMBA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.89. With this latest performance, AMBA shares dropped by -28.18% in over the last four-week period, additionally sinking by -27.71% over the last 6 months – not to mention a drop of -28.65% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMBA stock in for the last two-week period is set at 31.07, with the RSI for the last a single of trading hit 28.72, and the three-weeks RSI is set at 33.67 for Ambarella Inc. [AMBA]. The present Moving Average for the last 50 days of trading for this stock 77.47, while it was recorded at 69.60 for the last single week of trading, and 78.30 for the last 200 days.
Insight into Ambarella Inc. Fundamentals:
Ambarella Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.80.
AMBA Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMBA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ambarella Inc. go to 2.90%.
Ambarella Inc. [AMBA] Institutonal Ownership Details
The top three institutional holders of AMBA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in AMBA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in AMBA stock with ownership which is approximately 5.7381%.