Mobileye Global (NASDAQ:MBLY) Stock Rating Upgraded by Berenberg Bank

Key Points

• Berenberg Bank upgraded Mobileye Global to “buy” from “hold” and set an $11 price target, implying approximately 23% upside from the stock’s $8.92 price.
• Analyst sentiment is broadly positive but mixed, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $12.65.
• Mobileye exceeded quarterly expectations with $0.19 in EPS versus $0.06 expected and $508 million in revenue versus $480.51 million estimated; the company also authorized a $250 million share-repurchase program.

Mobileye Global (NASDAQ:MBLY - Get Free Report) was upgraded by stock analysts at Berenberg Bank from a "hold" rating to a "buy" rating in a research note issued on Monday, Marketbeat.com reports. The firm presently has a $11.00 target price on the stock. Berenberg Bank's price target points to a potential upside of 23.32% from the company's current price.

Several other research analysts have also recently weighed in on MBLY. BNP Paribas Exane lowered their price target on shares of Mobileye Global from $11.50 to $8.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Mobileye Global from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. UBS Group reduced their target price on shares of Mobileye Global from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group cut their price target on shares of Mobileye Global from $17.00 to $12.00 and set a "buy" rating for the company in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.65.

Mobileye Global Price Performance

MBLY stock opened at $8.92 on Monday. Mobileye Global has a 1 year low of $6.47 and a 1 year high of $15.81. The firm has a market capitalization of $7.49 billion, a PE ratio of -1.79, a price-to-earnings-growth ratio of 3.04 and a beta of 1.21. The business has a 50 day simple moving average of $8.85 and a 200-day simple moving average of $8.73.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm's revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. On average, equities research analysts expect that Mobileye Global will post 0.11 EPS for the current year.

Mobileye Global announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at Mobileye Global

In related news, Director Frank D. Yeary bought 12,360 shares of the stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the purchase, the director directly owned 12,360 shares in the company, valued at $98,632.80. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the company's stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares of the company's stock, valued at approximately $713,482.56. The trade was a 16.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 10.00% of the company's stock.

Institutional Trading of Mobileye Global

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Mobileye Global during the second quarter worth $31,000. IFP Advisors Inc boosted its position in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company's stock worth $26,000 after buying an additional 1,495 shares during the period. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the first quarter valued at $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global in the fourth quarter valued at $32,000. Finally, Leonteq Securities AG purchased a new stake in shares of Mobileye Global in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Mobileye Global Company Profile

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.

Founded in 1999 by Prof.

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