Mobileye Global (NASDAQ:MBLY – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped 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 note on Friday, April 24th. Jefferies Financial Group began coverage on shares of Mobileye Global in a research report on Monday, May 18th. They set an “underperform” rating and a $8.00 price target for the company. Mizuho upped their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. TD Cowen increased their target price on Mobileye Global from $10.00 to $11.50 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, UBS Group lifted their target price on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.70.
Get Our Latest Report on Mobileye Global
Mobileye Global Price Performance
Mobileye Global (NASDAQ:MBLY – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The business had revenue of $558.00 million for the quarter, compared to analysts’ expectations of $519.34 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue was up 27.4% compared to the same quarter last year. Research analysts expect that Mobileye Global will post -0.09 earnings per share for the current fiscal year.
Mobileye Global announced that its board has initiated a share buyback plan on Thursday, April 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Hedge Funds Weigh In On Mobileye Global
Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc grew its position in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after buying an additional 1,495 shares during the period. Rhumbline Advisers bought a new position in Mobileye Global in the first quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Mobileye Global in the second quarter worth approximately $31,000. Financial Management Professionals Inc. purchased a new position in shares of Mobileye Global during the 4th quarter worth $32,000. Finally, Leonteq Securities AG bought a new stake in shares of Mobileye Global during the 4th quarter valued at $33,000. Institutional investors own 13.25% of the company’s stock.
Key Mobileye Global News
Here are the key news stories impacting Mobileye Global this week:
- Positive Sentiment: Mobileye and Stellantis announced an expanded partnership for cloud-enhanced advanced driver-assistance systems, with Mobileye set to supply REM-based technology for select future vehicles and enable more connected safety and hands-free driving features. Mobileye to Supply Cloud-Enhanced ADAS for Select Future Stellantis Vehicles
- Positive Sentiment: Reuters reported that Mobileye will supply Stellantis with cloud-based driver-assistance technology, reinforcing the commercial value of Mobileye’s software platform and potentially improving investor confidence in future revenue opportunities. Mobileye to supply Stellantis with cloud-based driver assistance technology
- Positive Sentiment: Zacks Research upgraded Mobileye Global from “hold” to “strong-buy,” which can attract momentum investors and suggests improving sentiment around the stock. Zacks Research upgrade
- Positive Sentiment: Several recent articles argued that the Stellantis ADAS deal may be supporting a new “undervalued” narrative for Mobileye, with analysts also highlighting meaningful upside to their price targets. Mobileye Global (MBLY) On Stellantis ADAS Deal Is The Undervalued Narrative Starting To Fit Is Stellantis’s Cloud ADAS Deal Quietly Reframing Mobileye (MBLY)’s Software Monetization Narrative? Wall Street Analysts Think Mobileye (MBLY) Could Surge 46.93%
- Neutral Sentiment: One article compared Mobileye with Niu Technologies, but it does not appear to add a direct catalyst for the stock. Niu Technologies & Mobileye Global Head to Head Comparison
- Negative Sentiment: Some commentary still frames Mobileye as a deeply discounted name after a large share decline, which underscores that investors remain focused on whether growth can reaccelerate enough to justify the valuation. Mobileye (MBLY) Stock Looks Undervalued As Shares Fell 78%
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.
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