Ambarella (AMBA) Soars up to 32% to Hit New Record High on Highly Optimistic Outlook, Stellar Earnings

We recently published 10 Stocks With Double-Digit to 100% Upside in Just a Week. Ambarella, Inc. (NASDAQ:AMBA) is one of the worst performers on Friday.

Ambarella saw its share prices grow by 14.65 percent week-on-week to hit a new all-time high as investors cheered its highly optimistic outlook for the full fiscal period, supported by a stellar earnings performance in the second quarter.

On Friday alone, the company jumped as high as 32 percent to hit a new 52-week record high of $93.44, before trimming gains to end the day just up by 16.78 percent at $82.48 apiece.

In its updated report, Ambarella, Inc. (NASDAQ:AMBA) raised its full-year revenue growth outlook to a range of 31 to 35 percent to a midpoint of $379 million, as it expected a strong secular growth in the edge AI market. This compares with a 19 to 25 percent revenue growth outlook targeted previously.

“A variety of portable AI video applications have reached production status, and by the end of fiscal 2026, we expect to realize production shipments from our first robotic aerial drone win,” said Ambarella, Inc. (NASDAQ:AMBA) President and CEO Fermi Wang.

For the third quarter alone, Ambarella, Inc. (NASDAQ:AMBA) said it was targeting revenues between $100 million and $108 million.

On a year-on-year basis, the revenue midpoints for both the third quarter and the full fiscal period of 2026 would represent all-time records.

In the second quarter, the company narrowed its net loss by 42.69 percent to $19.99 million from $34.89 million in the same period last year. Revenues jumped by 49.9 percent to $95.5 million from $63.7 million year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.