Breaking News Instant updates and real-time market news.

AMBA

Ambarella

$54.27

-0.19 (-0.35%)

, GPRO

GoPro

$8.54

-0.09 (-1.04%)

10:31
12/01/17
12/01
10:31
12/01/17
10:31

Ambarella rises after reporting quarterly earnings beat expectations

Shares of Ambarella (AMBA) are rising after the semiconductor design company reported better-than-expected earnings and offered guidance on Thursday. EARNINGS: After the market close on Thursday, Ambarella, a major supplier to camera maker GoPro (GPRO), reported third quarter earnings per share of 75c on a revenue of $89.1M, exceeding analyst estimates of 67c and $88.97M, respectively. The company also forecast fourth quarter revenue between $68M-$72M, in line with analyst estimates of $70.27M, and a gross margin between 62%-63% on a non-GAAP basis. GOPRO REVENUES SEEN DOWN: On Ambarella's third quarter conference call, CEO Fermi Wang said "We are very pleased with our execution and progress in the development of our computer vision solutions," adding, "In the automotive markets, we see opportunities in multiple applications spending car recorders, electronic mirror, surround view, advanced driver assistance systems or ADAS, and ultimately fully autonomous vehicles." However, CFO George Laplante said, "We expect GoPro (GPRO) revenues to decline to approximately $13M from $30.2M the same period in the prior year." BULLISH ANALYST REACTION: On Friday, Canaccord analyst Matthew Ramsay said Ambarella's solid Q3 results were driven by strength in several end markets including both professional and home security, automotive and wearable cameras. The analyst believes that although near-term bumps remain, the current share price undervalues the company's computer vision IP, growth potential and engineering teams. Ramsay reiterated his Buy rating and raised his price target to $67 from $65. Additionally, Morgan Stanley analyst Joseph Moore said Ambarella's commentary on its computer vision chip was notably stronger and he expects to get much more detail in the coming months. Ambarella management said they had sampled the first version of the CV chip to automotive and surveillance customers and there is a possibility they could announce auto development relationships for CV in 2018, maybe even the first half of the year, noted Moore, who maintained an Overweight rating and $60 price target on Ambarella shares. Meanwhile, Stifel analyst Kevin Cassidy said that Ambarella is continuing to gain traction in raising its dollar content per vehicle which is an important key for securing future CV-based automotive ADAS designs. The analyst said he believes the company will continue to expand in the automotive market via dashboard cameras and electronic mirrors and the company's takeover of VisLab will help it integrate intelligent processing capabilities into its drones and security cameras. He has a Buy rating and $62 piece target on the name. ROTH STAYS NEUTRAL: Roth Capital Partners analyst Suji Desilva said he thinks Ambarella represents a differentiated investment opportunity in low power video and machine vision processor but he expects near-term visibility to be limited. The analyst is encouraged by the company's retention of a strong gross margin and sees an "exciting growth opportunity" from automotive and consumer security in FY19, but he is waiting to see hints of ongoing core market demand stability and visibility. He has a Neutral rating and $50 price target on the stock. PRICE ACTION: Ambarella jumped 18.7% to $64.37 in morning trading. Shares are up 19.6% year-to-date. GoPro, meanwhile, is up 0.7% to $8.60 this morning.

AMBA

Ambarella

$54.27

-0.19 (-0.35%)

GPRO

GoPro

$8.54

-0.09 (-1.04%)

  • 09

    Jan

AMBA Ambarella
$54.27

-0.19 (-0.35%)

09/27/17
MSCO
09/27/17
NO CHANGE
Target $60
MSCO
Overweight
Morgan Stanley ups Ambarella 'bull case' to $115 on computer vision opportunity
Morgan Stanley analyst Joseph Moore said that after spending three days on a road show with Ambarella management he came away with more appreciation for the potential of the company's computer vision opportunity, where it could become a market leader. If early company claims prove accurate, he sees a "bull case" for the stock up to $115, though he cautions that even in the bull case revenue traction in ADAS will likely take multiple years. The analyst, who has a $60 base case price target on Ambarella, keeps an Overweight rating on the shares.
10/13/17
ADAM
10/13/17
NO CHANGE
Target $65
ADAM
Buy
Ambarella share price undervalues computer vision IP, says Canaccord
Canaccord analyst Matthew Ramsay noted Ambarella shares have been volatile since its last earnings report and he believes the bumps are likely to remain over the near-term. However, he believes the challenges have caused investors to undervalue its long-term computer vision hardware and software intellectual property and growth potential in more stable security and automotive markets. Ramsay reiterated his Buy rating and raised his price target to $65 from $58 on Ambarella shares.
12/01/17
ADAM
12/01/17
NO CHANGE
Target $67
ADAM
Buy
Ambarella share price undervalues computer vision IP, says Canaccord
Canaccord analyst Matthew Ramsay noted Ambarella reported solid Q3 results driven by strength in several end markets including both professional and home security, automotive, and wearable cameras. The analyst believes that although near-term bumps remain, the current share price undervalues the company's computer vision IP, growth potential, and engineering teams. Ramsay reiterated his Buy rating and raised his price target to $67 form $65 on Ambarella shares.
12/01/17
MSCO
12/01/17
NO CHANGE
Target $60
MSCO
Overweight
Ambarella commentary on computer vision 'notably stronger,' says Morgan Stanley
Morgan Stanley analyst Joseph Moore said Ambarella's commentary on its computer vision chip was notably stronger and he expects to get much more detail in the coming months, pointing to January's Consumer Electronics Show as an important upcoming catalyst. Ambarella management said they had sampled the first version of the CV chip to automotive and surveillance customers and there is a possibility they could announce auto development relationships for CV in 2018, maybe even the first half of the year, noted Moore, who maintains an Overweight rating and $60 price target on Ambarella shares.
GPRO GoPro
$8.54

-0.09 (-1.04%)

10/18/17
LBOW
10/18/17
UPGRADE
Target $13
LBOW
Buy
GoPro upgraded to Buy on 'misguided' return to early 2017 valuation at Longbow
As previously reported, Longbow analyst Joe Wittine upgraded GoPro (GPRO) to Buy from Neutral, noting that the stock's valuation has returned to early 2017 levels, which he views as "misguided" given the execution improvement made since that time. Google (GOOG) Clips, which he attributes to having driven some of the recent selloff, is "not a competitive problem," Wittine tells investors. Additionally, his early channel checks show "good enough" initial market momentum for the HERO6, the analyst noted. Wittine has a $13 price target on GoPro shares.
10/18/17
10/18/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Merck (MRK) upgraded to Buy from Neutral at Citi with analyst Andrew Baum saying while Merck's non-Keytruda business continues to erode, the market is undervaluing both the ultimate patient derived xenograft market size and Merck's likely market share with Keytruda. 2. GoPro (GPRO) upgraded to Buy from Neutral at Longbow with analyst Joe Wittine noting that the stock's valuation has returned to early 2017 levels, which he views as "misguided" given the execution improvement made since that time. 3. Omnicom (OMC) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Tom Eagan saying Omnicom's North American growth for the third quarter was up 2.1%, a turnaround from the first half of 2017 deceleration. 4. Magna (MGA) upgraded to Buy from Underperform at BofA/Merrill with analyst John Murphy upgrading Magna two notches and saying the company has the expertise in numerous components and architectures of the vehicle that provide a unique competitive advantage in the evolution of the automotive industry towards technological advancement. 5. Grainger (GWW) upgraded to Outperform from Perform at Oppenheimer with analyst Christopher Glynn citing the company's third quarter results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/17
SBSH
11/02/17
NO CHANGE
Target $10
SBSH
Neutral
GoPro expectations got ahead of guidance, says Citi
Citi analyst Stanley Kovler says that while GoPro reported a Q3 beat, Q4 was essentially guided down after investor expectations increased following several rounds of positive Q3 related updates. The analyst left the Q3 results feeling GoPro will make an aggressive push on volumes via bundling and promotional activity but will likely stop short of discounting Hero5. The analyst lowered his price target for the shares to $10 from $11 and keeps a Neutral rating on the shares.
11/27/17
MSCO
11/27/17
NO CHANGE
MSCO
Morgan Stanley checks 'concerning' for GoPro demand
Morgan Stanley analyst Yuuji Anderson said the firm's checks pointed to improved sell-through and receptivity for GoPro's (GPRO) HERO6 camera, but that demand for the older HERO5 appears to be behind targets. He called the early holiday season checks "concerning," saying the combined demand for those two cameras is not sufficiently offsetting the lack of an entry-level product. Increased demand for the Ionic smartwatch and demand for older products that appears in-line with expectations leads Anderson to think Fitbit (FIT) is tracking to an in-line Q4, he said. Meanwhile, sell-through and receptivity for Garmin's (GRMN) Vivoactive 3 has been very good, Anderson added.

TODAY'S FREE FLY STORIES

LPSN

LivePerson

$11.05

-0.05 (-0.45%)

20:28
12/13/17
12/13
20:28
12/13/17
20:28
Initiation
LivePerson initiated  »

LivePerson initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 13

    Dec

HUSKF

Husky Energy

$12.42

-0.1177 (-0.94%)

20:26
12/13/17
12/13
20:26
12/13/17
20:26
Upgrade
Husky Energy rating change  »

Husky Energy upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

COP

ConocoPhillips

$51.68

-0.28 (-0.54%)

20:25
12/13/17
12/13
20:25
12/13/17
20:25
Upgrade
ConocoPhillips rating change  »

ConocoPhillips upgraded…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 13

    Dec

  • 14

    Dec

SAFM

Sanderson Farms

$167.64

0.64 (0.38%)

20:25
12/13/17
12/13
20:25
12/13/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 14

    Dec

DB

Deutsche Bank

$19.33

-0.05 (-0.26%)

19:17
12/13/17
12/13
19:17
12/13/17
19:17
Hot Stocks
DBNY, DBTCA raise prime lending rate to 4.5% from 4.25% »

Deutsche Bank announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

T

AT&T

$38.04

-0.06 (-0.16%)

18:47
12/13/17
12/13
18:47
12/13/17
18:47
Hot Stocks
AT&T and Communications Workers of America reach tentative agreement »

AT&T Mobility has…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BMY

Bristol-Myers

$63.47

0.19 (0.30%)

18:33
12/13/17
12/13
18:33
12/13/17
18:33
Hot Stocks
Bristol-Myers granted exclusive license by Ono Pharma to develop ONO-4578 »

Bristol-Myers and Ono…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Jan

  • 05

    Mar

WFC

Wells Fargo

$59.40

-0.93 (-1.54%)

18:15
12/13/17
12/13
18:15
12/13/17
18:15
Hot Stocks
Breaking Hot Stocks news story on Wells Fargo »

Wells Fargo raises prime…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 15

    Jan

HBAN

Huntington Bancshares

$14.58

-0.23 (-1.55%)

18:10
12/13/17
12/13
18:10
12/13/17
18:10
Hot Stocks
Huntington Bancshares raises prime rate to 4.5% from 4.25% »

Huntington Bancshares…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ASB

Associated Banc-Corp

$25.10

-0.2 (-0.79%)

18:06
12/13/17
12/13
18:06
12/13/17
18:06
Hot Stocks
Breaking Hot Stocks news story on Associated Banc-Corp »

Associated Banc-Corp…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

UBS

UBS

$17.90

0.035 (0.20%)

18:05
12/13/17
12/13
18:05
12/13/17
18:05
Periodicals
UBS Wealth Management president Zeltner close to stepping down, Bloomberg says »

UBS Wealth Management…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PFE

Pfizer

$36.64

0.06 (0.16%)

18:03
12/13/17
12/13
18:03
12/13/17
18:03
Hot Stocks
Pfizer announces FDA approves IXIFI, a biosimilar to Remicade »

Pfizer announced that the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    Jan

CNP

CenterPoint Energy

$28.40

0.02 (0.07%)

18:03
12/13/17
12/13
18:03
12/13/17
18:03
Hot Stocks
CenterPoint Energy raises quarterly dividend 4% to 27.75c per share »

CenterPoint Energy…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MDXG

MiMedx

$11.99

-0.26 (-2.12%)

18:03
12/13/17
12/13
18:03
12/13/17
18:03
Recommendations
MiMedx analyst commentary at Piper Jaffray »

Piper reiterates…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 13

    Dec

CE

Celanese

$108.31

1.34 (1.25%)

18:01
12/13/17
12/13
18:01
12/13/17
18:01
Hot Stocks
Celanese raises acetyl intermediates products prices »

Raises price on Vinyl…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WAL

Western Alliance

$57.30

-1.25 (-2.13%)

18:01
12/13/17
12/13
18:01
12/13/17
18:01
Hot Stocks
Western Alliance: Sarver to transition from chairman, CEO to exec chairman in Q1 »

Western Alliance…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

USB

U.S. Bancorp

$54.60

-0.9 (-1.62%)

18:01
12/13/17
12/13
18:01
12/13/17
18:01
Hot Stocks
U.S. Bancorp raises prime lending rate to 4.50% from 4.25%, effective Dec 14 »

U.S. Bancorp last…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jan

WBS

Webster Financial

$56.16

-0.73 (-1.28%)

18:00
12/13/17
12/13
18:00
12/13/17
18:00
Hot Stocks
Webster raises prime lending rate to 4.5% from 4.25% »

Webster Financial…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 14

    Dec

HSBC

HSBC

$51.44

0.89 (1.76%)

17:56
12/13/17
12/13
17:56
12/13/17
17:56
Hot Stocks
Breaking Hot Stocks news story on HSBC »

HSBC raises prime,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WTR

Aqua America

$37.59

0.32 (0.86%)

17:47
12/13/17
12/13
17:47
12/13/17
17:47
Hot Stocks
Aqua America names CEO Christopher Franklin as board chairman »

Aqua America announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jan

MSFT

Microsoft

$85.35

-0.23 (-0.27%)

17:38
12/13/17
12/13
17:38
12/13/17
17:38
Hot Stocks
Microsoft launches new AI-powered search features for Bing »

Microsoft announced in a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Jan

TCF

TCF Financial

$20.24

-0.16 (-0.78%)

17:36
12/13/17
12/13
17:36
12/13/17
17:36
Hot Stocks
Breaking Hot Stocks news story on TCF Financial »

TCF Financial raises…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CMA

Comerica

$84.81

-1.06 (-1.23%)

17:34
12/13/17
12/13
17:34
12/13/17
17:34
Hot Stocks
Comerica Bank raises prime rate to 4.5% from 4.25% »

Comerica Bank announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Jan

CMCM

Cheetah Mobile

$11.18

-0.02 (-0.18%)

17:33
12/13/17
12/13
17:33
12/13/17
17:33
Hot Stocks
Breaking Hot Stocks news story on Cheetah Mobile »

Cheetah Mobile up over…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

UBS

UBS

$17.89

0.03 (0.17%)

17:33
12/13/17
12/13
17:33
12/13/17
17:33
Periodicals
Breaking Periodicals news story on UBS »

UBS Wealth Management…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.