CEVA, Inc. (CEVA)

NASDAQInformation TechnologySemiconductorsSnapshot 2026-10-23

$28.62+1.49%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge CEVA, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

0.0%

+10% or more+5%0%−5%−10% or less

0.80 → 0.80 EPS · FY ending Dec 31, 2027 · 7 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 7 to 7; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	36.26M
EPS	—	0.246
Annual ending 2026-12-31
Revenue	—	124.99M
EPS	—	0.548
Annual ending 2027-12-31
Revenue	—	141.6M
EPS	—	0.803

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Gross margin stays near 88%	Gross margins remain very high near 88%.	Intact	Gross margin falls below 80% in FY25	Gross margin: 87.44% FY2026-Q2; GAAP. Published target: >= 86%. Target period is not explicitly aligned with this observation. Source published Aug 10, 202687.441876 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: abc93606-8e0e-4c67-a562-93d0a7466a26. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating income improves towards positive	It aims for positive operating income, improving from -$4.5M to -$0.4M in 2025-Q4.	Intact	Operating income remains below -$4 million beyond 2025-Q4	Operating income: $-2.076M FY2026-Q2; GAAP. Published target: >= -$0.4 million. The stored target says 2025-Q4; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 10, 2026-2,076,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: abc93606-8e0e-4c67-a562-93d0a7466a26. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue grows to at least $31 million	A primary condition in CEVA, Inc.'s published investment case. The stated target is >= $31 million.	Improving	Revenue falls below $27 million in FY25	Revenue: $29.033M FY2026-Q2; GAAP. Published target: >= $31 million. Target period is not explicitly aligned with this observation. Source published Aug 10, 202629,033,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: abc93606-8e0e-4c67-a562-93d0a7466a26. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$0.80

$0.82 → $0.80 · observed estimates

FY2027 revenue$0.14B

$0.14B → $0.14B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$0.82	$139,640,751	6 / 7
2026-07-25	$0.82	$139,640,751	6 / 7
2026-07-26	$0.82	$139,640,751	6 / 7
2026-07-27	$0.82	$139,644,760	9 / 9
2026-07-28	$0.82	$139,644,760	9 / 9
2026-07-29	$0.82	$139,644,760	9 / 9
2026-07-30	$0.82	$139,644,760	9 / 9
2026-07-31	$0.82	$139,640,751	6 / 7
2026-08-01	$0.82	$139,640,751	6 / 7
2026-08-02	$0.82	$139,644,760	9 / 9
2026-08-03	$0.82	$139,644,760	9 / 9
2026-08-04	$0.82	$139,640,751	6 / 7
2026-08-05	$0.83	$140,099,680	9 / 9
2026-08-06	$0.83	$140,099,680	9 / 9
2026-08-07	$0.82	$139,640,751	6 / 7
2026-08-08	$0.83	$140,099,680	9 / 9
2026-08-09	$0.82	$139,640,751	6 / 7
2026-08-10	$0.83	$140,099,680	9 / 9
2026-08-11	$0.83	$140,099,680	9 / 9
2026-08-12	$0.82	$139,640,751	6 / 7
2026-08-13	$0.80	$141,235,960	9 / 9
2026-08-14	$0.82	$139,640,751	6 / 7
2026-08-15	$0.82	$139,640,751	6 / 7
2026-08-16	$0.82	$139,640,751	6 / 7
2026-08-17	$0.82	$139,640,751	6 / 7
2026-08-18	$0.82	$139,640,751	6 / 7
2026-08-19	$0.82	$139,640,751	6 / 7
2026-08-20	$0.80	$141,214,075	7 / 7
2026-08-21	$0.80	$141,214,075	7 / 7
2026-08-22	$0.80	$141,214,075	7 / 7
2026-08-23	$0.80	$141,214,075	7 / 7
2026-08-24	$0.80	$141,214,075	7 / 7
2026-08-25	$0.80	$141,214,075	7 / 7
2026-08-26	$0.80	$141,214,075	7 / 7
2026-08-27	$0.80	$141,214,075	7 / 7
2026-08-28	$0.80	$141,214,075	7 / 7
2026-08-29	$0.80	$141,214,075	7 / 7
2026-08-30	$0.80	$141,214,075	7 / 7
2026-08-31	$0.80	$141,214,075	7 / 7
2026-09-01	$0.80	$141,214,075	7 / 7
2026-09-02	$0.80	$141,214,075	7 / 7
2026-09-03	$0.80	$141,214,075	7 / 7
2026-09-04	$0.80	$141,214,075	7 / 7
2026-09-05	$0.80	$141,214,075	7 / 7
2026-09-06	$0.80	$141,214,075	7 / 7
2026-09-07	$0.80	$141,214,075	7 / 7
2026-09-08	$0.80	$141,214,075	7 / 7
2026-09-09	$0.80	$141,214,075	7 / 7
2026-09-10	$0.80	$141,214,075	7 / 7
2026-09-11	$0.80	$141,214,075	7 / 7
2026-09-12	$0.80	$141,214,075	7 / 7
2026-09-13	$0.80	$141,214,075	7 / 7
2026-09-14	$0.80	$141,214,075	7 / 7
2026-09-15	$0.80	$141,214,075	7 / 7
2026-09-16	$0.80	$141,214,075	7 / 7
2026-09-17	$0.80	$141,551,630	7 / 7
2026-09-18	$0.80	$141,551,630	7 / 7
2026-09-19	$0.80	$141,551,630	7 / 7
2026-09-20	$0.80	$141,551,630	7 / 7
2026-09-21	$0.80	$141,551,630	7 / 7
2026-09-22	$0.80	$141,551,630	7 / 7
2026-09-23	$0.80	$141,551,630	7 / 7
2026-09-24	$0.80	$141,551,630	7 / 7
2026-09-25	$0.80	$141,551,630	7 / 7
2026-09-26	$0.80	$141,551,630	7 / 7
2026-09-27	$0.80	$141,551,630	7 / 7
2026-09-28	$0.80	$141,551,630	7 / 7
2026-09-29	$0.80	$141,551,630	7 / 7
2026-09-30	$0.80	$141,551,630	7 / 7
2026-10-01	$0.80	$141,551,630	7 / 7
2026-10-02	$0.80	$141,551,630	7 / 7
2026-10-03	$0.80	$141,551,630	7 / 7
2026-10-04	$0.80	$141,551,630	7 / 7
2026-10-05	$0.80	$141,551,630	7 / 7
2026-10-06	$0.80	$141,596,467	7 / 7
2026-10-07	$0.80	$141,596,467	7 / 7
2026-10-08	$0.80	$141,596,467	7 / 7
2026-10-09	$0.80	$141,596,467	7 / 7
2026-10-10	$0.80	$141,596,467	7 / 7
2026-10-11	$0.80	$141,596,467	7 / 7
2026-10-12	$0.80	$141,596,467	7 / 7
2026-10-13	$0.80	$141,596,467	7 / 7
2026-10-14	$0.80	$141,596,467	7 / 7
2026-10-15	$0.80	$141,596,467	7 / 7
2026-10-16	$0.80	$141,596,467	7 / 7
2026-10-17	$0.80	$141,596,467	7 / 7
2026-10-18	$0.80	$141,596,467	7 / 7
2026-10-19	$0.80	$141,596,467	7 / 7
2026-10-20	$0.80	$141,596,467	7 / 7
2026-10-21	$0.80	$141,596,467	7 / 7
2026-10-22	$0.80	$141,596,467	7 / 7
2026-10-23	$0.80	$141,596,467	7 / 7
2026-10-24	$0.80	$141,596,467	7 / 7

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	7	1
2026-06-01	8	1
2026-07-01	8	2
2026-08-01	7	2
2026-09-01	8	2
2026-10-01	8	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 8 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Gross margin stays near 88%Gross margin: 87.44%
Operating income improves towards positiveOperating income: $-2.076M
Revenue grows to at least $31 millionRevenue: $29.033M

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

3.3%Typical daily move · historical

Downside history

-47.6%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

CEVA, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

CEVA is a high-risk growth and profitability-improvement story, not yet a proven durable compounder. The thesis is on watch: recent results show progress, but confidence is medium and performance remains well below its industry cohort.

What's priced into CEVA, Inc.

The evidence describes CEVA as cheap versus peers, while also flagging its valuation as expensive and the expectations gap as meaningful. The pricing signal is therefore mixed, and the snapshot does not show that the market has fully accounted for weak results and execution risk.

What the fundamentals likely do

Near term, licensing growth and higher margins are supporting better results: second-quarter revenue rose 13% year over year, and operating profitability improved from the prior quarter. The company remains loss-making on a GAAP operating basis, while a guidance cut would be a meaningful risk; the recent earnings beats and stable management priorities offer some counterweight.

What CEVA, Inc. hinges on

Over the next few quarters, the thesis depends on continued licensing growth, strong gross margins, and progress toward sustained profitability. A guidance cut could weaken the case, while rate cuts or continued strength from major technology companies could support the sector backdrop without resolving CEVA’s company-specific execution risks.