Mobileye Global (NASDAQ:MBLY) Price Target Raised to $10.00

Key Points

• Royal Bank of Canada raised its price target on Mobileye Global from $9.00 to $10.00 while keeping a sector perform rating, implying about 4% upside from the current share price.
• Analyst sentiment remains mixed overall: the stock has a consensus Hold rating, with an average target price of $13.64, though several firms have recently adjusted their views and targets.
• Mobileye reported a better-than-expected quarter, with EPS of $0.12 versus $0.09 expected and revenue of $558 million, up 27.4% year over year; the company also approved a $250 million share repurchase plan.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective raised by equities research analysts at Royal Bank Of Canada from $9.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 4.00% from the stock's current price.

MBLY has been the topic of several other research reports. Jefferies Financial Group started coverage on Mobileye Global in a research note on Monday, May 18th. They issued an "underperform" rating and a $8.00 price target on the stock. Berenberg Bank cut shares of Mobileye Global from a "buy" rating to a "hold" rating and set a $10.80 price objective for the company. in a research report on Thursday, May 21st. Canaccord Genuity Group dropped their target price on shares of Mobileye Global from $24.00 to $17.00 and set a "buy" rating for the company in a report on Friday, April 24th. JPMorgan Chase & Co. decreased their price target on Mobileye Global from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Finally, Zacks Research upgraded Mobileye Global from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.64.

Mobileye Global Stock Up 0.7%

Shares of NASDAQ:MBLY traded up $0.07 during trading on Monday, hitting $9.62. 1,950,493 shares of the stock traded hands, compared to its average volume of 7,443,738. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $17.12. The company has a fifty day moving average price of $9.44 and a two-hundred day moving average price of $9.11. The company has a market cap of $8.09 billion, a price-to-earnings ratio of -1.92 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analysts' expectations of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The business's revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts predict that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP boosted its position in shares of Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock worth $61,898,000 after buying an additional 2,493,181 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings 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 worth $24,634,000 after buying an additional 705,400 shares in the last quarter. Engineers Gate Manager LP increased its position in Mobileye Global by 140.9% in the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock valued at $37,348,000 after acquiring an additional 2,092,250 shares during the period. DNB Asset Management AS raised its stake in Mobileye Global by 23.1% during the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company's stock valued at $36,608,000 after acquiring an additional 658,585 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Mobileye Global by 65.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company's stock worth $43,286,000 after acquiring an additional 1,213,448 shares during the period. Institutional investors and hedge funds own 13.25% of the company's stock.

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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