Mobileye Global (NASDAQ:MBLY) Shares Gap Up - Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $16.24, but opened at $17.02. Mobileye Global shares last traded at $16.81, with a volume of 1,489,589 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MBLY. Bank of America raised shares of Mobileye Global from an "underperform" rating to a "neutral" rating and increased their target price for the company from $12.00 to $19.00 in a report on Monday, February 10th. TD Cowen raised their price objective on Mobileye Global from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Robert W. Baird lifted their price objective on Mobileye Global from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. The Goldman Sachs Group decreased their target price on Mobileye Global from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded Mobileye Global to a "sell" rating in a research report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Mobileye Global currently has a consensus rating of "Hold" and an average target price of $18.63.

Mobileye Global Stock Down 0.7%

The company has a 50 day moving average of $14.69 and a 200 day moving average of $16.19. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of -4.26, a price-to-earnings-growth ratio of 69.54 and a beta of 0.38.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. The firm had revenue of $438.00 million for the quarter, compared to the consensus estimate of $434.87 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm's revenue for the quarter was up 83.3% compared to the same quarter last year. On average, research analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the transaction, the executive vice president now directly owns 107,853 shares in the company, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mobileye Global

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Mobileye Global by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after purchasing an additional 621,062 shares in the last quarter. Norges Bank acquired a new stake in Mobileye Global in the fourth quarter valued at $95,937,000. DAVENPORT & Co LLC boosted its stake in 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 acquiring an additional 167,333 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Mobileye Global by 32.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after acquiring an additional 493,281 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in Mobileye Global by 9.0% during the 1st quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock worth $28,303,000 after acquiring an additional 161,800 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company's stock.

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.