Mobileye Global Inc. (NASDAQ:MBLY) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst consensus is “Hold”: Of 23 firms covering Mobileye, 11 rate it Hold, eight Buy, one Strong Buy and three Sell. The average 12-month price target is $10.43.
• Recent analyst views are mixed: Citigroup initiated coverage with a Buy and $11 target, while RBC downgraded the stock to Underperform with a $5 target.
• Mobileye beat quarterly earnings and revenue estimates, reporting EPS of $0.11 and revenue of $492 million, though revenue fell 2.4% year over year. Shares opened at $5.86, near their 52-week low of $4.89.

Shares of Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-three research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.43.

MBLY has been the subject of several recent research reports. Citigroup initiated coverage on Mobileye Global in a research note on Friday, October 16th. They issued a "buy" rating and a $11.00 price objective for the company. Tigress Financial cut their price target on Mobileye Global from $25.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group decreased their price objective on shares of Mobileye Global from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, October 30th. Piper Sandler upgraded shares of Mobileye Global from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, July 27th. Finally, Royal Bank Of Canada cut Mobileye Global from a "sector perform" rating to an "underperform" rating and dropped their price target for the company from $7.00 to $5.00 in a research report on Wednesday, October 21st.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $5.86 on Tuesday. Mobileye Global has a fifty-two week low of $4.89 and a fifty-two week high of $14.33. The company has a 50 day moving average price of $7.30 and a 200 day moving average price of $8.39. The stock has a market capitalization of $4.92 billion, a P/E ratio of -1.18, a PEG ratio of 1.75 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $492.00 million for the quarter, compared to the consensus estimate of $476.78 million. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. Research analysts forecast that Mobileye Global will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of Mobileye Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of 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 acquiring an additional 705,400 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Mobileye Global in the 2nd quarter worth approximately $23,423,000. Bank of America Corp DE grew its holdings in shares of 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 worth $13,991,000 after acquiring an additional 111,215 shares during the period. M&G PLC increased its stake in Mobileye Global by 1.2% in the 3rd quarter. M&G PLC now owns 1,813,282 shares of the company's stock valued at $12,693,000 after purchasing an additional 21,799 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Mobileye Global in the 3rd quarter valued at approximately $9,074,000. Institutional investors and hedge funds own 13.25% of the company's stock.

About Mobileye Global

Mobileye Global develops advanced driver-assistance systems (ADAS) and autonomous-driving technologies for automakers. Its products include EyeQ system-on-chips, computer-vision software, sensing and mapping technologies, and driver-assistance and automated-driving systems designed for vehicles ranging from mass-market models to premium platforms.

Founded in Israel in 1999, Mobileye was acquired by Intel in 2017 and became a publicly traded company again in 2022. The company is headquartered in Jerusalem and serves automotive manufacturers and other mobility customers around the world.

Mobileye was co-founded by Amnon Shashua, who serves as its president and chief executive officer.

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