Mobileye Global (NASDAQ:MBLY) Given “Buy” Rating at Needham & Company LLC

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

Several other equities research analysts also recently issued reports on MBLY. Morgan Stanley downgraded shares of Mobileye Global from an equal weight rating to an underweight rating and lowered their price objective for the stock from $26.00 to $25.00 in a research report on Friday. Bank of America cut shares of Mobileye Global from a neutral rating to an underperform rating and cut their target price for the stock from $47.00 to $22.00 in a research note on Thursday, January 4th. Piper Sandler assumed coverage on shares of Mobileye Global in a research note on Friday, March 15th. They issued a neutral rating and a $31.00 price objective for the company. TD Cowen lifted their price objective on shares of Mobileye Global from $35.00 to $37.00 and gave the stock a buy rating in a research note on Friday. Finally, Barclays dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Mobileye Global has a consensus rating of Moderate Buy and a consensus target price of $41.70.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $29.20 on Friday. Mobileye Global has a 52 week low of $23.49 and a 52 week high of $47.41. The company has a market capitalization of $23.54 billion, a PE ratio of -139.04, a PEG ratio of 14.36 and a beta of -0.21. The company has a 50 day moving average price of $29.23 and a two-hundred day moving average price of $33.40.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $637.53 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Mobileye Global will post 0.14 earnings per share for the current year.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Patrick P. Gelsinger bought 3,600 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $27.75 per share, for a total transaction of $99,900.00. Following the transaction, the director now directly owns 129,095 shares in the company, valued at $3,582,386.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Mobileye Global during the 4th quarter worth approximately $437,842,000. Kodai Capital Management LP acquired a new position in shares of Mobileye Global in the 4th quarter worth approximately $148,924,000. Wellington Management Group LLP lifted its position 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 worth $147,210,000 after purchasing an additional 2,266,438 shares during the period. Franklin Resources Inc. lifted its position 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 worth $113,616,000 after purchasing an additional 538,371 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in shares of Mobileye Global by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company’s stock worth $85,109,000 after purchasing an additional 38,667 shares during the period. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.