Mobileye Global (NASDAQ:MBLY) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Mobileye Global (NASDAQ:MBLY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on MBLY. UBS Group increased their target price on shares of Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Mizuho upped their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective for the company. in a report on Thursday, May 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Mobileye Global from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and a consensus target price of $13.70.

Mobileye Global Stock Up 0.4%

Shares of MBLY stock opened at $8.99 on Monday. The firm has a market cap of $7.56 billion, a P/E ratio of -1.78 and a beta of 1.16. The company has a 50 day moving average of $9.49 and a 200-day moving average of $9.06. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $17.12.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. During the same period in the prior year, the company earned $0.08 earnings per share. Mobileye Global’s revenue was up 27.4% compared to the same quarter last year. As a group, equities analysts expect that Mobileye Global will post -0.09 EPS for the current year.

Mobileye Global declared that its Board of Directors has authorized a share repurchase program on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc raised its stake in Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new position in Mobileye Global in the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Mobileye Global in the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. bought a new position in shares of Mobileye Global in the 4th quarter worth $32,000. Finally, Leonteq Securities AG bought a new position in shares of Mobileye Global in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

More Mobileye Global News

Here are the key news stories impacting Mobileye Global this week:

• Positive Sentiment: Mobileye and Stellantis announced an expanded partnership for cloud-enhanced advanced driver-assistance systems, with Mobileye set to supply REM-based technology for select future vehicles and enable more connected safety and hands-free driving features. Mobileye to Supply Cloud-Enhanced ADAS for Select Future Stellantis Vehicles
• Positive Sentiment: Reuters reported that Mobileye will supply Stellantis with cloud-based driver-assistance technology, reinforcing the commercial value of Mobileye’s software platform and potentially improving investor confidence in future revenue opportunities. Mobileye to supply Stellantis with cloud-based driver assistance technology
• Positive Sentiment: Zacks Research upgraded Mobileye Global from “hold” to “strong-buy,” which can attract momentum investors and suggests improving sentiment around the stock. Zacks Research upgrade
• Positive Sentiment: Several recent articles argued that the Stellantis ADAS deal may be supporting a new “undervalued” narrative for Mobileye, with analysts also highlighting meaningful upside to their price targets. Mobileye Global (MBLY) On Stellantis ADAS Deal Is The Undervalued Narrative Starting To Fit Is Stellantis’s Cloud ADAS Deal Quietly Reframing Mobileye (MBLY)’s Software Monetization Narrative? Wall Street Analysts Think Mobileye (MBLY) Could Surge 46.93%
• Neutral Sentiment: One article compared Mobileye with Niu Technologies, but it does not appear to add a direct catalyst for the stock. Niu Technologies & Mobileye Global Head to Head Comparison
• Negative Sentiment: Some commentary still frames Mobileye as a deeply discounted name after a large share decline, which underscores that investors remain focused on whether growth can reaccelerate enough to justify the valuation. Mobileye (MBLY) Stock Looks Undervalued As Shares Fell 78%

Mobileye Global Company Profile

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.