Mobileye Global Inc. (NASDAQ:MBLY) Stock Has Average Price Target of $11.25 According to Brokerages

Key Points

• Analyst sentiment is mixed: Twenty-two brokerages give Mobileye Global an average “Hold” rating, with an average 12-month price target of $11.25. Recent firms including UBS, JPMorgan and Barclays lowered their targets, while Needham maintained a “Buy” rating with a $13 target.
• Shares remain well below their annual high: Mobileye opened at $7.43, compared with a 12-month range of $6.47 to $15.44, and its market capitalization is approximately $6.24 billion.
• Quarterly results beat expectations, and insiders bought shares: The company reported adjusted EPS of $0.19 versus a $0.06 consensus estimate and revenue of $508 million, ahead of forecasts. Directors purchased roughly $199,000 of stock in recent transactions, while insiders own 10% of the company.

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) has received an average rating of "Hold" from the twenty-two research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.25.

Several equities analysts recently weighed in on MBLY shares. UBS Group reduced their price target on shares of Mobileye Global from $9.00 to $7.50 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Mobileye Global in a research note on Friday, July 24th. Barclays reissued an "equal weight" rating and set a $9.00 target price (down from $14.00) on shares of Mobileye Global in a research report on Wednesday, September 30th. Finally, Zacks Research upgraded shares of Mobileye Global from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 21st.

Mobileye Global Trading Up 3.9%

Shares of Mobileye Global stock opened at $7.43 on Friday. The business's fifty day simple moving average is $8.13 and its 200 day simple moving average is $8.60. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $15.44. The firm has a market capitalization of $6.24 billion, a P/E ratio of -1.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.25.

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

Insider Activity at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 84,336 shares of the company's stock, valued at $713,482.56. This represents a 16.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank D. Yeary bought 12,360 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was purchased at an average cost of $7.98 per share, with a total value 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. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BCGM Wealth Management LLC increased its holdings in Mobileye Global by 56.7% in the 1st quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company's stock worth $2,533,000 after acquiring an additional 133,471 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Mobileye Global by 24.5% in 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 acquiring an additional 705,400 shares during the period. Bank of America Corp DE raised its stake in Mobileye Global by 5.8% in the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock valued at $13,991,000 after acquiring an additional 111,215 shares during the period. Royal Bank of Canada lifted its holdings in Mobileye Global by 129.6% during the first quarter. Royal Bank of Canada now owns 224,315 shares of the company's stock valued at $1,541,000 after purchasing an additional 126,634 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Mobileye Global during the second quarter valued at about $23,423,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Company Profile

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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