Earnings Estimates Moving Higher for Ambarella (AMBA): Time to Buy?
Ambarella, Inc. (AMBA) is a Semiconductor Equipment & Materials company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AMBA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ambarella could be a solid choice for investors.
Current Quarter Estimates for AMBA
In the past 30 days, 2 estimates moved up for Ambarella but there was no downward revision. The consensus estimate trend has been pretty favourable, with estimates increasing from 27 cents a share 30 days ago, to 44 cents today, a move of 63%.
Current Year Estimates for AMBA
Meanwhile, Ambarella’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 83 cents per share 30 days ago to $1.16 per share today, an increase of 40%.
Bottom Line
The stock has also started to move higher lately, adding 29.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 Ambarella stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
AMBARELLA ORD (AMBA): Free Stock Analysis Report
Zacks Investment Research
