Mobileye Global (NASDAQ:MBLY) Upgraded by Wall Street Zen to Buy Rating

Key Points

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Wall Street Zen upgraded shares of Mobileye Global (NASDAQ:MBLY - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other brokerages also recently issued reports on MBLY. BNP Paribas upgraded Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target for the company in a report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price objective on shares of Mobileye Global in a research report on Friday, July 25th. Barclays boosted their price objective on Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Finally, UBS Group increased their price target on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.67.

Mobileye Global Stock Performance

Shares of MBLY traded down $0.07 during mid-day trading on Friday, reaching $14.03. 2,726,827 shares of the company were exchanged, compared to its average volume of 5,539,993. Mobileye Global has a 52 week low of $10.48 and a 52 week high of $22.51. The stock has a market capitalization of $11.40 billion, a PE ratio of -3.84, a PEG ratio of 9.12 and a beta of 0.52. The business has a 50 day simple moving average of $16.37 and a two-hundred day simple moving average of $15.69.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%. The business had revenue of $506.00 million during the quarter, compared to analysts' expectations of $466.42 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm's revenue was up 15.3% on a year-over-year basis. On average, analysts predict that Mobileye Global will post 0.01 EPS 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 stock was 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 owned 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. 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 value 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 approximately $802,500,000. The trade was a 56.04% decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Mobileye Global in the 2nd quarter valued at approximately $274,000. Y Intercept Hong Kong Ltd purchased a new position in Mobileye Global during the second quarter valued at $3,226,000. ARK Investment Management LLC raised its stake in Mobileye Global by 18.2% during the second quarter. ARK Investment Management LLC now owns 137,053 shares of the company's stock valued at $2,464,000 after buying an additional 21,066 shares during the last quarter. Sanders Morris Harris LLC raised its stake in Mobileye Global by 6.3% during the second quarter. Sanders Morris Harris LLC now owns 42,500 shares of the company's stock valued at $764,000 after buying an additional 2,500 shares during the last quarter. Finally, Slow Capital Inc. raised its stake in Mobileye Global by 4.4% during the second quarter. Slow Capital Inc. now owns 234,565 shares of the company's stock valued at $4,217,000 after buying an additional 9,912 shares during the last quarter. Hedge funds and other institutional investors 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.