Mobileye Global Inc. (NASDAQ:MBLY) Receives $13.77 Consensus Target Price from Brokerages

Shares of Mobileye Global Inc. (NASDAQ:MBLY) have been given an average rating of “Hold” by the twenty-five research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.7727.

A number of analysts have issued reports on MBLY shares. Jefferies Financial Group began coverage on shares of Mobileye Global in a research note on Monday, May 18th. They issued an “underperform” rating and a $8.00 target price for the company. Mizuho increased their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. UBS Group raised their price target on shares of Mobileye Global from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, BNP Paribas Exane decreased their price objective on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, April 22nd.

Institutional Trading of Mobileye Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Burkehill Global Management LP acquired a new position in shares of Mobileye Global during the 3rd quarter valued at about $42,360,000. Two Sigma Investments LP raised its stake in shares of Mobileye Global by 131.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after acquiring an additional 2,493,181 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Mobileye Global in the 2nd quarter worth approximately $23,423,000. Engineers Gate Manager LP lifted its holdings in Mobileye Global by 140.9% in the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after purchasing an additional 2,092,250 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Mobileye Global by 436.0% during the third quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock worth $35,156,000 after purchasing an additional 2,025,257 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Price Performance

MBLY opened at $9.55 on Wednesday. The company has a market capitalization of $8.04 billion, a PE ratio of -1.89 and a beta of 1.16. Mobileye Global has a fifty-two week low of $6.47 and a fifty-two week high of $17.12. The business has a 50-day moving average of $9.44 and a 200-day moving average of $9.11.

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

Mobileye Global declared that its board has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.