Ceva (NASDAQ:CEVA) Trading 6.1% Higher Following Better-Than-Expected Earnings

Market Beat
2026.05.12 14:28
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Ceva, Inc. (NASDAQ:CEVA) shares rose 6.1% following a better-than-expected earnings report, with Q1 EPS at $0.04, surpassing estimates of $0.02. Revenue reached $27.02 million, exceeding expectations. Analysts have reacted positively, with TD Cowen raising its price target from $24 to $45, citing strong AI licensing momentum. Despite the earnings beat, some investors are taking profits, leading to a slight reversal in stock price. Institutional investors hold 85.37% of Ceva's stock, reflecting strong interest in the company.