Mobileye Global (NASDAQ:MBLY) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Mobileye Global (NASDAQ:MBLY - Free Report) in a research note published on Friday morning, Benzinga reports. Needham & Company LLC currently has a $36.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on the company. Wolfe Research raised Mobileye Global from a peer perform rating to an outperform rating and set a $41.00 price target for the company in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Mobileye Global from $34.00 to $38.00 and gave the company an overweight rating in a report on Thursday, April 11th. Bank of America lowered shares of Mobileye Global from a neutral rating to an underperform rating and decreased their price objective for the stock from $47.00 to $22.00 in a report on Thursday, January 4th. Barclays dropped their target price on shares of Mobileye Global from $46.00 to $43.00 and set an overweight rating for the company in a research note on Friday, January 26th. Finally, TD Cowen increased their price target on shares of Mobileye Global from $35.00 to $37.00 and gave the company a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $42.33.

Mobileye Global Price Performance

Shares of MBLY traded down $1.70 during trading hours on Friday, hitting $29.20. The stock had a trading volume of 5,591,370 shares, compared to its average volume of 4,611,774. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of -723.57, a P/E/G ratio of 14.47 and a beta of -0.21. The company's fifty day moving average is $29.16 and its two-hundred day moving average is $33.47. Mobileye Global has a 52 week low of $23.49 and a 52 week high of $47.41.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $637.53 million. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. The company's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Equities analysts predict that Mobileye Global will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Patrick P. Gelsinger bought 3,600 shares of the company's stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $27.75 per share, for a total transaction of $99,900.00. Following the acquisition, the director now owns 129,095 shares of the company's stock, valued at approximately $3,582,386.25. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently added to or reduced their stakes in MBLY. Norges Bank bought a new position in shares of Mobileye Global during the fourth quarter worth about $437,842,000. Kodai Capital Management LP acquired a new stake in Mobileye Global in the fourth quarter valued at $148,924,000. Wellington Management Group LLP increased its stake in shares of Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company's stock worth $147,210,000 after purchasing an additional 2,266,438 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Mobileye Global by 25.8% in the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company's stock valued at $113,616,000 after purchasing an additional 538,371 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in Mobileye Global by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company's stock valued at $85,109,000 after purchasing an additional 38,667 shares during the last quarter. 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.