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

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

A number of other analysts have also commented on MBLY. Raymond James dropped their price target on Mobileye Global from $48.00 to $40.00 in a research note on Monday, January 22nd. Piper Sandler assumed coverage on Mobileye Global in a research note on Friday, March 15th. They issued a neutral rating and a $31.00 price target for the company. Morgan Stanley lowered Mobileye Global from an equal weight rating to an underweight rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Friday. Bank of America lowered Mobileye Global from a neutral rating to an underperform rating and lowered their price objective for the company from $47.00 to $22.00 in a research report on Thursday, January 4th. Finally, TD Cowen raised their price objective on Mobileye Global from $35.00 to $37.00 and gave the company a buy rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Mobileye Global currently has an average rating of Moderate Buy and an average price target of $41.70.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $29.20 on Friday. Mobileye Global has a one year low of $23.49 and a one year high of $47.41. The firm’s 50 day simple moving average is $29.23 and its two-hundred day simple moving average is $33.40. The stock has a market capitalization of $23.54 billion, a P/E ratio of -139.04, a PEG ratio of 14.36 and a beta of -0.21.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $637.53 million. During the same period last year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Mobileye Global will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Mobileye Global during the 4th quarter valued at about $437,842,000. Kodai Capital Management LP purchased a new stake in shares of Mobileye Global during the 4th quarter valued at about $148,924,000. Wellington Management Group LLP increased its position in shares of Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after purchasing an additional 2,266,438 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Mobileye Global by 25.8% during the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock valued at $113,616,000 after purchasing an additional 538,371 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Mobileye Global by 2.0% during the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company’s stock valued at $85,109,000 after purchasing an additional 38,667 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 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.