Mobileye Global (NASDAQ:MBLY) Now Covered by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Mobileye Global (NASDAQ:MBLY) in a note issued to investors on Monday. The brokerage set an “underperform” rating and a $8.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential downside of 20.16% from the company’s current price.

MBLY has been the subject of a number of other research reports. Berenberg Bank assumed coverage on Mobileye Global in a report on Wednesday, April 1st. They issued a “buy” rating and a $9.30 price target for the company. TD Cowen upped their target price on shares of Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Barclays lowered their price target on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Morgan Stanley dropped their price target on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.70.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $10.02 on Monday. The business’s 50-day moving average is $8.05 and its two-hundred day moving average is $9.76. The firm has a market capitalization of $8.43 billion, a PE ratio of -1.99 and a beta of 1.06. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping 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 company had revenue of $558.00 million during the quarter, compared to the consensus estimate of $519.34 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s revenue was up 27.4% compared to the same quarter last year. Equities analysts anticipate that Mobileye Global will post -0.07 EPS for the current year.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global during the first quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global during the second quarter worth $31,000. Financial Management Professionals Inc. bought a new position in shares of Mobileye Global in the 4th quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new position in shares of Mobileye Global in the 4th quarter valued at about $33,000. Institutional investors and hedge funds 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.