Mobileye Global (NASDAQ:MBLY) Price Target Increased to $37.00 by Analysts at Canaccord Genuity Group

Mobileye Global (NASDAQ:MBLY) had its price target increased by equities researchers at Canaccord Genuity Group from $31.00 to $37.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 19.74% from the company’s previous close.

A number of other analysts have also issued reports on MBLY. Piper Sandler assumed coverage on Mobileye Global in a research note on Friday, March 15th. They issued a “neutral” rating and a $31.00 price target on the stock. Barclays dropped their target price on Mobileye Global from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Robert W. Baird lowered their price objective on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Wolfe Research upgraded Mobileye Global from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Friday, April 12th. Finally, TD Cowen lifted their target price on Mobileye Global from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.29.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $30.90 on Friday. The stock has a fifty day moving average price of $29.16 and a two-hundred day moving average price of $33.47. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of -772.31, a PEG ratio of 14.47 and a beta of -0.21. Mobileye Global has a 1 year low of $23.49 and a 1 year high of $47.41.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $637.53 million. Mobileye Global had a positive return on equity of 2.91% and a negative net margin of 1.30%. Mobileye Global’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, analysts predict that Mobileye Global will post 0.14 EPS for the current year.

Insider Activity

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 3,600 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $27.75 per share, with a total value of $99,900.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through 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 in the 4th quarter valued at about $437,842,000. Kodai Capital Management LP bought a new position in shares of Mobileye Global in the 4th quarter valued at about $148,924,000. Wellington Management Group LLP grew its holdings in shares of Mobileye Global by 200.3% in the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after acquiring an additional 2,266,438 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Mobileye Global by 4,749.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,115,030 shares of the company’s stock valued at $46,329,000 after acquiring an additional 1,092,035 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Mobileye Global in the 3rd quarter valued at about $37,345,000. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.