Mobileye Global (NASDAQ:MBLY) Price Target Raised to $18.00

Mobileye Global (NASDAQ:MBLY) had its price objective upped by research analysts at Robert W. Baird from $17.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 32.26% from the stock’s current price.

A number of other research firms also recently issued reports on MBLY. Wolfe Research downgraded shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Royal Bank of Canada downgraded Mobileye Global from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $24.00 to $11.00 in a research note on Tuesday, October 15th. Fox Advisors cut Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Barclays lowered their target price on Mobileye Global from $27.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price target on shares of Mobileye Global in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global has an average rating of “Hold” and an average target price of $24.75.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $13.61 on Friday. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $44.48. The company has a 50 day simple moving average of $12.75 and a two-hundred day simple moving average of $20.93. The company has a market capitalization of $11.01 billion, a PE ratio of -48.61 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Research analysts predict that Mobileye Global will post -0.06 EPS for the current year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, Director Patrick P. Gelsinger bought 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently modified their holdings of MBLY. ARK Investment Management LLC grew its holdings in shares of Mobileye Global by 7.7% during the 3rd quarter. ARK Investment Management LLC now owns 74,878 shares of the company’s stock worth $1,026,000 after acquiring an additional 5,323 shares during the period. Malaga Cove Capital LLC bought a new stake in shares of Mobileye Global during the third quarter valued at approximately $305,000. Impax Asset Management Group plc purchased a new stake in Mobileye Global in the third quarter worth $871,000. Arcadia Investment Management Corp MI raised its holdings in Mobileye Global by 13.1% in the third quarter. Arcadia Investment Management Corp MI now owns 139,656 shares of the company’s stock worth $1,913,000 after purchasing an additional 16,190 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its position in Mobileye Global by 41.1% during the third quarter. Focus Financial Network Inc. now owns 12,314 shares of the company’s stock valued at $169,000 after buying an additional 3,584 shares during the period. Hedge funds and other 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.