Royal Bank Of Canada Boosts Mobileye Global (NASDAQ:MBLY) Price Target to $17.00

Key Points

• Mobileye Global's price target was raised from $14.00 to $17.00 by the Royal Bank of Canada, indicating a potential upside of 17.58% from its current price.
• Several analysts have varied ratings, with Needham maintaining a "buy" rating and a price target of $18.00, while Wells Fargo increased their target to $24.00, suggesting strong investor interest.
• The company reported a quarterly revenue of $506 million, surpassing estimates, and a modest earnings per share of $0.13, demonstrating positive growth compared to the previous year.

Mobileye Global (NASDAQ:MBLY - Free Report) had its target price increased by Royal Bank Of Canada from $14.00 to $17.00 in a research note published on Tuesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research note on Monday, June 9th. Barclays lifted their price objective on shares of Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a research note on Friday, July 25th. Finally, Robert W. Baird cut their price objective on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.58.

Mobileye Global Stock Down 2.2%

MBLY stock traded down $0.31 during mid-day trading on Tuesday, reaching $13.93. The company had a trading volume of 6,561,432 shares, compared to its average volume of 11,213,295. The stock has a market capitalization of $11.32 billion, a P/E ratio of -3.82, a P/E/G ratio of 9.33 and a beta of 0.54. Mobileye Global has a one year low of $10.48 and a one year high of $22.51. The stock's 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $15.71.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $506.00 million for the quarter, compared to analysts' expectations of $466.42 million. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. On average, research analysts forecast that Mobileye Global will post 0.01 EPS for the current fiscal year.

Insider Activity

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the transaction, the insider owned 50,000,000 shares of the company's stock, valued at $802,500,000. The trade was a 56.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $16.09, for a total value of $1,085,962.37. Following the sale, the executive vice president owned 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Mobileye Global during the 1st quarter valued at about $2,207,000. Vanguard Group Inc. lifted its holdings in shares of Mobileye Global by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock valued at $34,181,000 after buying an additional 45,756 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Mobileye Global by 42.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 75,036 shares of the company's stock valued at $1,080,000 after buying an additional 22,300 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Mobileye Global by 7.6% during the 1st quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after buying an additional 167,333 shares during the last quarter. Finally, Needham Investment Management LLC acquired a new stake in shares of Mobileye Global during the 4th quarter valued at about $996,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.