Mobileye Global (NASDAQ:MBLY) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Mobileye Global to “strong buy” from “hold,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $12.16.
• Mobileye shares opened at $7.68, down 3.9%, and remain well below their 52-week high of $15.81; recent analysts have issued mixed target-price revisions ranging from $7 to $12.
• The company exceeded quarterly expectations, reporting $0.19 in EPS versus $0.06 expected and $508 million in revenue versus $480.51 million forecast. Two directors also bought roughly $199,000 of shares, signaling insider confidence.

Mobileye Global (NASDAQ:MBLY - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, July 24th. Canaccord Genuity Group decreased their price target on Mobileye Global from $17.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. UBS Group lowered their price objective on Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, July 24th. Piper Sandler raised Mobileye Global from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday, July 27th. Finally, Royal Bank Of Canada cut their target price on shares of Mobileye Global from $10.00 to $7.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.16.

Mobileye Global Stock Down 3.9%

Shares of NASDAQ:MBLY opened at $7.68 on Monday. The stock has a market cap of $6.45 billion, a PE ratio of -1.54, a PEG ratio of 2.62 and a beta of 1.22. The company's fifty day moving average is $8.49 and its 200 day moving average is $8.63. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $15.81.

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

Insider Buying and Selling

In other Mobileye Global news, Director Frank D. Yeary bought 12,360 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the acquisition, the director directly owned 12,360 shares in the company, valued at $98,632.80. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director directly owned 84,336 shares of the company's stock, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 10.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Mobileye Global by 17.8% during the second quarter. Tidal Investments LLC now owns 159,149 shares of the company's stock valued at $1,541,000 after purchasing an additional 24,088 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Mobileye Global by 185.7% in the second quarter. WINTON GROUP Ltd now owns 147,700 shares of the company's stock worth $1,430,000 after purchasing an additional 96,000 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Mobileye Global by 11.0% in the second quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company's stock worth $169,000 after purchasing an additional 1,732 shares in the last quarter. Allworth Financial LP lifted its position in Mobileye Global by 63.6% during the second quarter. Allworth Financial LP now owns 3,947 shares of the company's stock valued at $38,000 after buying an additional 1,535 shares during the period. Finally, Nykredit A S bought a new stake in shares of Mobileye Global during the 2nd quarter valued at $77,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company that develops advanced driver-assistance systems (ADAS) and autonomous driving solutions for vehicle manufacturers and mobility providers. Its technologies use computer vision, artificial intelligence, mapping and sensor systems to help vehicles detect road conditions, identify hazards and support safer driving.

The company's product portfolio includes EyeQ system-on-chip platforms, camera-based safety features such as automatic emergency braking and lane-keeping assistance, and more advanced systems marketed under names including Mobileye SuperVision and Mobileye Drive.

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