Notable Analyst Actions: Ambarella, Alibaba, GoPro

Ambarella (AMBA) shares gained more than 5% in trading Monday after Barron’s reported Stifel Nicolaus said the company is gearing up to enter the computer vision market, extending its lead on the competition.  Barron’s cited Stifel Nicolaus analyst Kevin Cassidy as saying the company is getting into the computer vision market with the use of sensors, which will give it more of a competitive advantage. Cassidy said the acquisition of VisLab in July will give it a one-year head start on competitors. Stifel has a buy rating and a $115 price target on the stock. Recently, AMBA was up on light volume of 2.7 million shares. Average daily volume is 4.1 million shares.

Alibaba (BABA) saw its price target lowered to $85 from $90 by Axiom Securities while the firm retained its buy rating.

Analysts at Northland Securities reiterated their outperform rating on GoPro (GPRO), and set their price target at $80, a 147% premium over Friday’s closing price. Additionally, the firm made a minor downward revision in its second half of fiscal 2015 estimates, and cited slower-than-expected HERO 4 session’s sales. Now, the firm expects GoPro to report $430 million in its Q315 sales, compared to its previous estimate of $440 million.

However, the depressed stock price offers buying opportunities, according to Northland, as the firm sees GoPro as an attractive takeover target for Apple (AAPL), especially if Apple develops its own streaming service that could complement GoPro’s growing sports content. Shares of GoPro are trading nearly 6% higher at $34.28, near the low of its 52-week range of $31.32 to $98.47.

 

 

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