Mobileye Global (NASDAQ:MBLY) Now Covered by Analysts at Citigroup

Key Points

• Citigroup initiated coverage of Mobileye Global with a “buy” rating and an $11 price target, implying approximately 48% upside from the stock’s $7.43 price.
• Analyst sentiment is mixed: Mobileye has an overall “hold” rating and an average price target of $11.23, while recent targets range from $9 to $13.
• Mobileye exceeded quarterly expectations, reporting $0.19 in adjusted EPS versus a $0.06 consensus estimate and revenue of $508 million; company directors also recently purchased shares.

Research analysts at Citigroup assumed coverage on shares of Mobileye Global (NASDAQ:MBLY - Get Free Report) in a research note issued on Friday, Briefing.com reports. The firm set a "buy" rating and a $11.00 price target on the stock. Citigroup's price objective suggests a potential upside of 48.05% from the company's current price.

A number of other research firms also recently weighed in on MBLY. Barclays restated an "equal weight" rating and issued a $9.00 price target (down from $14.00) on shares of Mobileye Global in a research note on Wednesday, September 30th. Berenberg Bank upgraded shares of Mobileye Global from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research report on Monday, August 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Mobileye Global in a research note on Friday, July 24th. TD Cowen reduced their price objective on Mobileye Global from $11.50 to $9.00 and set a "buy" rating for the company in a report on Friday, July 24th. Finally, Canaccord Genuity Group decreased their target price on Mobileye Global from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.23.

Mobileye Global Stock Performance

Shares of Mobileye Global stock opened at $7.43 on Friday. The company has a market cap of $6.24 billion, a P/E ratio of -1.49, a PEG ratio of 2.35 and a beta of 1.25. Mobileye Global has a one year low of $6.47 and a one year high of $15.44. The firm has a fifty day moving average of $8.13 and a two-hundred day moving average of $8.60.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company had revenue of $508.00 million during the quarter, compared to analysts' expectations of $480.51 million. During the same quarter last year, the business earned ($0.08) EPS. The business's revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that Mobileye Global will post 0.11 earnings per share for the current year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the business's stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares in the company, valued at approximately $713,482.56. The trade was a 16.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Yeary purchased 12,360 shares of the stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the transaction, the director directly owned 12,360 shares of the company's stock, valued at approximately $98,632.80. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Mobileye Global by 24.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock valued at $24,634,000 after buying an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Mobileye Global by 6.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company's stock worth $19,112,000 after acquiring an additional 166,392 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Mobileye Global by 5.8% in the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock worth $13,991,000 after acquiring an additional 111,215 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Mobileye Global in the fourth quarter valued at $15,290,000. Finally, First Trust Advisors LP lifted its position in shares of Mobileye Global by 27.7% in the first quarter. First Trust Advisors LP now owns 1,152,499 shares of the company's stock valued at $7,918,000 after acquiring an additional 249,921 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

About Mobileye Global

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.

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