Mobileye Global (NASDAQ:MBLY) Upgraded to Moderate Sell at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Mobileye Global (NASDAQ:MBLY) to a moderate sell rating in a report published on Saturday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Barclays reduced their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, March 30th. BNP Paribas Exane reduced their price objective on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Tigress Financial reaffirmed a “buy” rating and set a $25.00 price objective on shares of Mobileye Global in a report on Thursday, January 29th. TD Cowen lifted their price objective on Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Berenberg Bank began coverage on Mobileye Global in a report on Wednesday, April 1st. They set a “buy” rating and a $9.30 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Mobileye Global presently has a consensus rating of “Hold” and an average price target of $13.70.

Mobileye Global Price Performance

Mobileye Global stock opened at $9.34 on Friday. Mobileye Global has a 1-year low of $6.47 and a 1-year high of $20.18. The company has a market cap of $7.86 billion, a PE ratio of -1.85 and a beta of 1.06. The stock’s 50 day moving average price is $8.08 and its 200 day moving average price is $9.73.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The firm had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities research analysts anticipate that Mobileye Global will post -0.07 EPS for the current fiscal year.

Mobileye Global declared that its board has approved a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently added to or reduced their stakes in the company. Amundi increased its stake in Mobileye Global by 89.7% during the first quarter. Amundi now owns 35,225 shares of the company’s stock worth $242,000 after acquiring an additional 16,658 shares during the last quarter. California State Teachers Retirement System increased its stake in Mobileye Global by 39.6% during the first quarter. California State Teachers Retirement System now owns 194,805 shares of the company’s stock worth $1,338,000 after acquiring an additional 55,249 shares during the last quarter. Royal Bank of Canada increased its stake in Mobileye Global by 129.6% during the first quarter. Royal Bank of Canada now owns 224,315 shares of the company’s stock worth $1,541,000 after acquiring an additional 126,634 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in Mobileye Global during the first quarter worth about $381,000. Finally, Lombard Odier Asset Management USA Corp increased its stake in Mobileye Global by 155.6% during the first quarter. Lombard Odier Asset Management USA Corp now owns 36,625 shares of the company’s stock worth $252,000 after acquiring an additional 22,294 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.