Mobileye Global (NASDAQ:MBLY) Upgraded to Overweight at Piper Sandler

Key Points

• Piper Sandler upgraded Mobileye Global to “overweight” from “neutral” and raised its price target to $12 from $10, implying roughly 49% upside from the reported $8.05 share price.
• Mobileye reported quarterly EPS of $0.19, exceeding the $0.06 analyst consensus, while revenue of $508 million also surpassed estimates of $480.5 million.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” consensus and an average price target of $12.95; the company also authorized a $250 million share-repurchase program.

Mobileye Global (NASDAQ:MBLY - Get Free Report) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a $12.00 price target on the stock, up from their prior price target of $10.00. Piper Sandler's target price would indicate a potential upside of 49.07% from the company's current price.

MBLY has been the subject of a number of other reports. Jefferies Financial Group assumed coverage on Mobileye Global in a report on Monday, May 18th. They issued an "underperform" rating and a $8.00 price objective for the company. Wall Street Zen upgraded Mobileye Global from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Barclays decreased their price target on Mobileye Global from $16.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, March 30th. TD Cowen lowered their price objective on Mobileye Global from $11.50 to $9.00 and set a "buy" rating for the company in a research report on Friday. Finally, Zacks Research raised Mobileye Global from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.95.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $8.05 on Monday. The company has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $8.99. Mobileye Global has a 1 year low of $6.47 and a 1 year high of $15.81. The firm has a market cap of $6.77 billion, a PE ratio of -1.61 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share 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 analyst estimates of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, research analysts anticipate that Mobileye Global will post -0.09 earnings per share for the current fiscal year.

Mobileye Global declared that its board has initiated a stock repurchase plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Mobileye Global

A number of large investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in shares of Mobileye Global by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company's stock valued at $450,000 after purchasing an additional 3,019 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Mobileye Global during the 1st quarter worth approximately $27,000. Creative Planning boosted its holdings in shares of Mobileye Global by 10.2% during the 2nd quarter. Creative Planning now owns 18,316 shares of the company's stock worth $329,000 after buying an additional 1,693 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Mobileye Global during the 2nd quarter worth approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global in the 2nd quarter valued at $31,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.

Founded in 1999 by Prof.

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