Why Ambarella Shares Are Up 20% Friday

Ambarella, Inc. AMBA stock is trading higher after the company reported strong first quarter earnings and issued upbeat guidance.

What Happened: Ambarella reported financial earnings for the first quarter of fiscal-year 2025 after the market close on Thursday.

The company reported a loss of 26 cents per share, beating analyst estimates of a loss of 31 cents per share. Also, Ambarella announced revenue of $54.47 million which came in ahead of analyst estimates of $53.87 million.

Ambarella set guidance for the second quarter of fiscal-year 2025. The company expects revenue between $60 million and $64 million versus analyst estimates of $59.33 million.

Following the earnings report, two analysts issued price target adjustments:

• Morgan Stanley analyst Joseph Moore maintains Ambarella with an Overweight and raises the price target from $57 to $67.
• Roth MKM analyst Suji Desilva maintains Ambarella with a Neutral and lowers the price target from $65 to $60.

See Also: What’s Going On With Nvidia Stock On Friday?

AMBA Price Action: At the time of writing Ambarella shares were trading 20.8% higher at $58.37 per data from Benzinga Pro.

Image: 5782413 from Pixabay.