Mobileye Global (NASDAQ:MBLY) Raised to Strong-Buy at Zacks Research

Mobileye Global (NASDAQ:MBLY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

MBLY has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Mobileye Global in a research report on Friday, July 24th. UBS Group cut their target price on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Tigress Financial reduced their target price on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Mizuho reduced their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Canaccord Genuity Group decreased their price target on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.16.

Mobileye Global Price Performance

Shares of MBLY opened at $7.68 on Monday. The firm’s 50 day moving average is $8.49 and its 200-day moving average is $8.63. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81. The stock has a market capitalization of $6.45 billion, a P/E ratio of -1.54, a P/E/G ratio of 2.62 and a beta of 1.22.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $508.00 million during 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 business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) earnings per share. As a group, equities research analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank D. Yeary purchased 12,360 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the acquisition, the director owned 12,360 shares in the company, valued at $98,632.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. This trade represents a 16.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Mobileye Global by 24.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after acquiring an additional 705,400 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Mobileye Global by 140.9% during the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Mobileye Global during the second quarter valued at $23,423,000. Bank of America Corp DE boosted its position in Mobileye Global by 5.8% during the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock valued at $13,991,000 after purchasing an additional 111,215 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Mobileye Global in the fourth quarter valued at about $15,290,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc is a technology company that develops advanced driver-assistance systems (ADAS) and autonomous driving solutions for vehicle manufacturers and mobility providers. Its technologies use computer vision, artificial intelligence, mapping and sensor systems to help vehicles detect road conditions, identify hazards and support safer driving.

The company’s product portfolio includes EyeQ system-on-chip platforms, camera-based safety features such as automatic emergency braking and lane-keeping assistance, and more advanced systems marketed under names including Mobileye SuperVision and Mobileye Drive.