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Ambarella And Life After GoPro

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Ambarella And Life After GoPro

Canaccord Genuity’s Matthew Ramsay maintained his Buy rating on Ambarella Inc (NASDAQ: AMBA), saying that life after GoPro Inc (NASDAQ: GPRO) would be driven by its computer vision roadmap, with applications across security, drone and automotive cameras.

“Despite near-term growth challenges from the loss of GoPro, we believe investors understand the complex but underappreciated sensor fusion algorithm and computer vision roadmaps Ambarella has developed organically and through the VisLab acquisition, and their applicability to make high-definition cameras “smart” across several end markets,” Ramsay wrote in a note.

Ambarella's Guidance

Ambarella’s guidance for 26 percent growth in non-GoPro revenues for FY2018 reinforces the analyst’s long-term bullish thesis on the stock intact.

Ramsay said Ambarella is set for sustainable and less-volatile growth, driven by the ramp of new design wins, launch of 14nm chipsets this year and computer vision technology in 2018.

At last check, shares of Ambarella were up 0.71 percent to $56.35. Ramsay has a price target of $72.

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Latest Ratings for AMBA

DateFirmActionFromTo
Mar 2021Wells FargoInitiates Coverage OnEqual-Weight
Mar 2021Craig-HallumMaintainsBuy
Mar 2021Roth CapitalMaintainsBuy

View More Analyst Ratings for AMBA
View the Latest Analyst Ratings

 

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