Ambarella (AMBA) & CrowdStrike (CRWD): 2 trending stocks on Wednesday

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Ambarella (AMBA) & CrowdStrike (CRWD): 2 trending stocks on Wednesday

 Ambarella (AMBA) & CrowdStrike (CRWD): 2 trending stocks on Wednesday
Image source: hywards,Shutterstock

Highlights

  • The Ambarella, Inc. (Nasdaq: AMBA) stock jumped over 25% on Wednesday, a day after reporting Q2 earnings for FY 2022.
  • Ambarella reported revenue of US$79.3 million in the quarter.
  • CrowdStrike Holdings, Inc’s (Nasdaq: CRWD) Q2 revenue was US$337.7 million.

Stocks of Ambarella, Inc. (Nasdaq: AMBA) and CrowdStrike Holdings, Inc (Nasdaq: CRWD) were trending on Wall Street Wednesday, a day after reporting their second-quarter results.  

The AMBA stock rose 25.64% to US$130.125 at 1.32 pm ET, while CRWD stock fell by 2.96% to US$272.72 at 1.53 pm ET.

Ambarella, Inc. (Nasdaq: AMBA)

The California-based semiconductor company develops high-definition video compression products. It reported revenue of US$79.3 million in Q2 of FY 2022, up by 58% YoY. The gross margin was 62.3 percent in the quarter compared to 61.8 percent in Q2 of FY 2021.

The company reported a net loss of US$7.2 million or US$0.20 per diluted ordinary share against a net loss of US$14.8 million or US$0.43 per diluted ordinary share in Q2 of FY 2021.

Source: Pixabay.

Ambarella’s revenue for the first six months of the fiscal year 2022 was US$149.5 million, up 43 percent YoY. The gross margin for the first six months was 62.3 percent compared to 60.1 percent in the first half of FY 2021.

Its net loss for the first six months of FY 2022 was US$18 million or US$0.50 per diluted ordinary share compared to US$30.2 million or US$0.88 per diluted ordinary share for the six months of FY 2021.

Also read: Anaplan Inc (PLAN), PVH Corp (PVH) stocks jump on Q2 results, outlook

Its stocks surged by 39.95 percent YTD. Ambarella has a market cap of US$4.7 billion, a forward P/E one year of -131.10, and an EPS of US$-1.34. AMBA’s 52-week highest and lowest stock prices were US$137.21 and US$46.99, respectively.

CrowdStrike Holdings, Inc

CrowdStrike is a US cybersecurity company based in California. CrowdStrike’s revenue was US$337.7 million in Q2 of FY 2022, up 70 percent YoY. The company’s annual recurring revenue jumped 70 percent to US$1.34 billion. The net loss from operations was US$47.4 million in Q2 of FY 2022, compared to US$30 million in Q2 of FY 2021. CrowdStrike’s free cash flow was US$73.6 million in Q2 of FY 2022, against US$32.4 million in Q2 of the previous fiscal year.

The stock surged by 28.81 percent YTD. Its market cap is US$61.5 billion, the forward P/E one year is -562, and the EPS is US$-0.83. The stock’s 52-week highest and lowest prices were US$289.24 and US$115.25, respectively.

Bottomline

CRWD and AMBA’s solid Q2 revenue indicate sustained recovery of the markets from the pandemic downturn. Analysts expect the economy to perform better in the coming quarters as demand for goods continues to rise.

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