Mobileye Global (NASDAQ:MBLY) Shares Up 8.1% on Analyst Upgrade

by · The Markets Daily

Mobileye Global Inc. (NASDAQ:MBLY – Get Free Report) shares shot up 8.1% during trading on Friday after TD Cowen raised their price target on the stock from $15.00 to $19.00. TD Cowen currently has a buy rating on the stock. Mobileye Global traded as high as $14.85 and last traded at $14.71. 2,114,686 shares changed hands during trading, a decline of 57% from the average session volume of 4,883,963 shares. The stock had previously closed at $13.61.

A number of other equities analysts have also recently weighed in on the stock. BNP Paribas cut shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Wednesday, October 2nd. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Daiwa America lowered Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group decreased their price target on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Mizuho cut shares of Mobileye Global from an “outperform” rating to a “neutral” rating and cut their price target for the company from $30.00 to $13.00 in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.25.

View Our Latest Stock Analysis on MBLY

Insider Activity

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, with a total value of $99,072.00. Following the acquisition, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Mobileye Global by 64.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock valued at $162,000 after acquiring an additional 1,470 shares in the last quarter. Tobam acquired a new position in shares of Mobileye Global during the 1st quarter valued at $7,168,000. Carson Advisory Inc. acquired a new position in shares of Mobileye Global during the 1st quarter valued at $240,000. DAVENPORT & Co LLC lifted its holdings in shares of Mobileye Global by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock valued at $76,519,000 after buying an additional 408,038 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Mobileye Global during the first quarter valued at about $2,163,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Price Performance

The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of -52.53 and a beta of 0.08. The business has a fifty day moving average of $12.75 and a 200-day moving average of $20.93.

Mobileye Global (NASDAQ:MBLY – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts anticipate that Mobileye Global Inc. will post -0.06 EPS for the current year.

About Mobileye Global

(Get Free Report)

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.

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