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Vetr Issues 'Strong Buy' On Ambarella After Analyst Downgrade

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The Vetr crowd on Wednesday upgraded its rating for Ambarella Inc (NASDAQ: AMBA) from the stock's previous rating of 3.5 stars (Buy), issued 13 days ago, to 4.5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 87 percent of Vetr user ratings bullish.

Vetr's upgrade follows and analyst downgrade to the semiconductor company. The downgrade, which was issued on Tuesday, came from analysts with Pacific Crest who put the stock at Sector Weight from its prior rating of Overweight. Share price in Ambarella dropped by more than 10 percent after the downgrade and was trading at around $58.25 by 1 p.m. ET the next day.

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Currently, the Vetr crowds average target price for Ambarella is up at $66.97, which is still below the average analyst target price of $68.60. Less than 2 percent of Vetr users are holding Ambarella in their watch-lists.

Latest Ratings for AMBA

DateFirmActionFromTo
Oct 2019MaintainsHold
Oct 2019Initiates Coverage OnHold
Aug 2019MaintainsNeutral

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Posted-In: Analyst Color Long Ideas Upgrades Downgrades Price Target Crowdsourcing Markets Analyst Ratings

 

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