Wells Fargo & Company Forecasts Strong Price Appreciation for Mobileye Global (NASDAQ:MBLY) Stock

Mobileye Global (NASDAQ:MBLY - Free Report) had its price objective increased by Wells Fargo & Company from $18.00 to $24.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also issued reports on MBLY. TD Cowen increased their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Needham & Company LLC reduced their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays reiterated an "equal weight" rating and set a $14.00 price objective (down from $22.00) on shares of Mobileye Global in a report on Tuesday, April 15th. Piper Sandler lifted their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $19.50.

Mobileye Global Trading Down 3.4%

NASDAQ MBLY traded down $0.56 on Wednesday, hitting $16.11. 20,515,625 shares of the company were exchanged, compared to its average volume of 5,752,289. The company has a market cap of $13.08 billion, a PE ratio of -4.38, a PEG ratio of 93.26 and a beta of 0.54. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $27.68. The stock has a fifty day moving average of $16.49 and a 200-day moving average of $16.09.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $438.00 million for the quarter, compared to analyst estimates of $434.87 million. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. Mobileye Global's revenue was up 83.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, analysts expect that Mobileye Global will post 0.01 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global 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 sale, the executive vice president owned 107,853 shares of the company's stock, valued at approximately $1,735,354.77. The trade was a 38.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds have recently modified their holdings of MBLY. Norges Bank purchased a new position in shares of Mobileye Global during the 4th quarter valued at $95,937,000. Dimensional Fund Advisors LP purchased a new position in shares of Mobileye Global during the 4th quarter valued at $27,155,000. Light Street Capital Management LLC purchased a new position in shares of Mobileye Global during the 4th quarter valued at $15,276,000. Yiheng Capital Management L.P. purchased a new position in shares of Mobileye Global during the 4th quarter valued at $14,940,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Mobileye Global by 433.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock valued at $12,837,000 after purchasing an additional 724,695 shares in the last quarter. Institutional investors own 13.25% of the company's stock.

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.