Mobileye Global (NASDAQ:MBLY) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised its price target on Mobileye Global from $10.00 to $11.50 and kept a buy rating, implying about 18.7% upside from the prior close.
• Other analysts remain mixed: the stock has a consensus Hold rating overall, with an average target price of $13.70 and several recent target changes from UBS, Barclays, Canaccord Genuity, RBC, and Weiss Ratings.
• Mobileye reported better-than-expected quarterly results, with EPS of $0.12 versus $0.09 expected and revenue of $558 million versus $519.34 million expected, while its board also authorized a $250 million share buyback.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective upped by TD Cowen from $10.00 to $11.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 18.74% from the company's previous close.

A number of other research firms have also recently commented on MBLY. UBS Group boosted their target price on shares of Mobileye Global from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Barclays decreased their price target on shares of Mobileye Global from $16.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, March 30th. Canaccord Genuity Group cut their price objective on Mobileye Global from $24.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Royal Bank Of Canada increased their target price on Mobileye Global from $9.00 to $10.00 and gave the company a "sector perform" rating in a report on Monday. Finally, Weiss Ratings upgraded Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $13.70.

Mobileye Global Stock Performance

Mobileye Global stock traded up $0.14 during trading on Monday, reaching $9.69. The company had a trading volume of 3,463,254 shares, compared to its average volume of 7,454,857. The firm's 50-day simple moving average is $9.44 and its 200 day simple moving average is $9.11. Mobileye Global has a 1-year low of $6.47 and a 1-year high of $17.12. The firm has a market capitalization of $8.15 billion, a PE ratio of -1.92 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The firm's revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. Analysts anticipate that Mobileye Global will post -0.09 EPS for the current year.

Mobileye Global declared that its board has authorized a stock buyback program on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Trading of Mobileye Global

Several large investors have recently bought and sold shares of the business. IFP Advisors Inc raised its holdings in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company's stock valued at $26,000 after acquiring an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Mobileye Global during the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global in the second quarter valued at approximately $31,000. Financial Management Professionals Inc. purchased a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $32,000. Finally, Leonteq Securities AG purchased a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.

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