CEVA

CEVA · NASDAQ

$28.88+$0.10 (+0.35%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $28.78

CEVA analyst rating

BuyConsensus of 9 analysts over the last 12 months. 89% rate it a buy.

Strong buy0
Buy8
Hold1
Underperform0
Sell0

12-month price target · 12 analysts

Average $47.26 (+63.6% upside)

Low: $38.38
Now: $28.88
High: $63.00

Upgrades and downgrades

The latest rating actions, newest first

CEVA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 19, 2026	Maintains	Buy	$45.00 → $35.00	39%
StoneX	Sep 14, 2026	Upgrade	Hold → Buy	$42.00	60%
TD Cowen	Aug 11, 2026	Maintains	Buy	$55.00 → $45.00	39%
Oppenheimer	Aug 11, 2026	Maintains	Outperform	$42.00 → $38.00	56%
Rosenblatt	Aug 11, 2026	Maintains	Buy	$45.00 → $49.00	53%
Needham	Aug 10, 2026	Maintains	Buy	$55.00 → $43.00	58%
Benchmark	Jul 16, 2026	Initiates	Hold	—	60%
TD Cowen	Jul 13, 2026	Maintains	Buy	$45.00 → $55.00	39%
Stifel	Jul 10, 2026	Maintains	Buy	$42.00 → $50.00	73%
Needham	Jun 15, 2026	Initiates	Buy	$55.00	58%

The case for and against

Updated Oct 14, 2026

Bull case

CEVA is viewed positively because 2Q showed a strong beat-and-raise quarter, with revenue of $29.0M, licensing up 21% Y/Y to a three-year high of $18.2M, and royalties improving on wireless connectivity, automotive AI ramps, and smartphone share gains. The company’s strategy of winning broader platform and subsystem engagements, including 10 licenses in the quarter and a strategic NeuPro-M AI design win, supports larger upfront fees, higher future royalty content, and stronger customer stickiness than discrete IP sales. Raised FY2026 revenue growth guidance to 13%-15%, along with improving non-GAAP operating leverage and expanding adoption across AI, connectivity, and IoT, underpins the long-term fundamental outlook.

Bear case

CEVA is exposed to a cyclical semiconductor market that tracks global GDP, so weaker growth can quickly pressure consumer demand, IT spending, and licensing activity, especially in consumer-focused segments where pricing pressure is severe. Its revenue mix is also risky because a high portion comes from consumer-oriented applications with volatile demand, while future growth depends on R&D being aligned with customer needs and on monetizing heavy IP investments in 5G, artificial intelligence, voice recognition, and computer vision. If these markets fail to scale, or if licensing slows, connectivity and US-based mobile customer shipments lag, or customers in-source IP, CEVA’s revenue growth and overall fundamentals could deteriorate further.

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