Mobileye Global Inc. (NASDAQ:MBLY) Receives $14.79 Consensus Target Price from Analysts

Shares of Mobileye Global Inc. (NASDAQ:MBLY) have been given an average rating of “Hold” by the twenty-four research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.9762.

Several brokerages recently issued reports on MBLY. Berenberg Bank began coverage on shares of Mobileye Global in a research report on Wednesday, April 1st. They set a “buy” rating and a $9.30 price target on the stock. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. TD Cowen upped their target price on shares of Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Tigress Financial restated a “buy” rating and set a $25.00 target price on shares of Mobileye Global in a research report on Thursday, January 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mobileye Global in a research report on Monday.

Mobileye Global Stock Down 0.5%

Shares of NASDAQ MBLY opened at $8.69 on Friday. The firm’s 50-day simple moving average is $7.89 and its 200 day simple moving average is $10.13. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -1.72 and a beta of 0.75. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities analysts expect that Mobileye Global will post -0.07 earnings per share for the current year.

Mobileye Global declared that its board has initiated a share repurchase plan on Thursday, April 23rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Mobileye Global

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in shares of Mobileye Global by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after acquiring an additional 3,019 shares during the period. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the 1st quarter valued at approximately $27,000. Creative Planning raised its position in shares of Mobileye Global by 10.2% in the 2nd quarter. Creative Planning now owns 18,316 shares of the company’s stock valued at $329,000 after acquiring an additional 1,693 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Mobileye Global in the 2nd quarter valued at approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the 2nd quarter valued at approximately $31,000. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.