Mobileye Global (NASDAQ:MBLY) Given New $9.00 Price Target at UBS Group

Mobileye Global (NASDAQ:MBLY) had its target price lowered by investment analysts at UBS Group from $10.00 to $9.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 11.80% from the company’s current price.

A number of other analysts also recently issued reports on MBLY. Zacks Research raised shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. TD Cowen lowered their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group started coverage on Mobileye Global in a research report on Monday, May 18th. They set an “underperform” rating and a $8.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.95.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $8.05 on Friday. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81. The business has a 50 day moving average of $9.36 and a two-hundred day moving average of $8.99. The company has a market capitalization of $6.77 billion, a PE ratio of -1.61 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. Equities research analysts predict that Mobileye Global will post -0.09 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Mobileye Global

Hedge funds have recently made changes to their positions in the company. Burkehill Global Management LP purchased a new position in shares of Mobileye Global in the third quarter worth about $42,360,000. Two Sigma Investments LP grew its stake in Mobileye Global by 131.9% during 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. purchased a new stake in Mobileye Global during the 2nd quarter valued at about $23,423,000. Engineers Gate Manager LP raised 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 valued at $37,348,000 after acquiring an additional 2,092,250 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Mobileye Global by 436.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after acquiring an additional 2,025,257 shares during the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.