Mobileye Global (NASDAQ:MBLY) Price Target Raised 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 price target upped by Royal Bank Of Canada from $14.00 to $17.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Mobileye Global to a "sell" rating in a report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Mizuho lowered their target price on shares of Mobileye Global from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, Canaccord Genuity Group increased their target price on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.58.

Mobileye Global Trading Down 0.5%

NASDAQ MBLY traded down $0.07 on Tuesday, hitting $13.88. 1,130,301 shares of the company were exchanged, compared to its average volume of 5,509,854. The company has a market cap of $11.28 billion, a PE ratio of -3.80, a PEG ratio of 11.69 and a beta of 0.54. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $22.51. The stock has a fifty day moving average of $16.47 and a 200-day moving average of $15.74.

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

Insider Buying and Selling

In other news, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 107,853 shares in the company, valued at approximately $1,735,354.77. This trade represents a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the completion of the transaction, the insider owned 50,000,000 shares of the company's stock, valued at $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new position in shares of Mobileye Global during the first quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in Mobileye Global in the fourth quarter worth about $40,000. Ancora Advisors LLC purchased a new stake in Mobileye Global in the fourth quarter worth about $40,000. Allianz SE purchased a new stake in Mobileye Global in the fourth quarter worth about $43,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Mobileye Global by 1,799.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock worth $84,000 after buying an additional 5,543 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

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.