Mobility Global (NYSE:MBGL) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Mobility Global (NYSE:MBGL) had its price target lifted by analysts at JPMorgan Chase & Co. from $21.00 to $25.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.75% from the stock’s current price.

A number of other research firms have also weighed in on MBGL. Bank of America began coverage on shares of Mobility Global in a research report on Friday, August 21st. They set a “neutral” rating and a $23.00 price target on the stock. Robert W. Baird upped their price objective on shares of Mobility Global from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays increased their price objective on shares of Mobility Global from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday. Wolfe Research raised shares of Mobility Global to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of Mobility Global to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.00.

Mobility Global Stock Up 0.3%

NYSE:MBGL traded up $0.07 during trading hours on Friday, hitting $23.20. 5,772,059 shares of the company traded hands, compared to its average volume of 3,818,648. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.93. The firm has a market cap of $6.87 billion and a P/E ratio of 128.89. The business’s 50-day simple moving average is $19.08. Mobility Global has a one year low of $16.95 and a one year high of $26.00.

Mobility Global (NYSE:MBGL) last posted its earnings results on Thursday, November 12th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $478.00 million during the quarter. Mobility Global’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Mobility Global will post 1.52 EPS for the current year.

Institutional Trading of Mobility Global

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Trust Services Inc. bought a new position in shares of Mobility Global during the 3rd quarter worth $25,000. Sterling Capital Management LLC purchased a new stake in Mobility Global in the 3rd quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in Mobility Global in the 3rd quarter valued at about $28,000. CX Institutional bought a new stake in Mobility Global in the 3rd quarter valued at about $30,000. Finally, Advisors Preferred LLC bought a new stake in Mobility Global in the 2nd quarter valued at about $36,000.

Key Headlines Impacting Mobility Global

Investors following MBGL have been watching these headlines:

• Positive Sentiment: The company authorized an $800 million share-repurchase program. Its free cash flow and hard-to-replicate data collection network may support continued capital returns, according to coverage of the company. Article: Mobility Global authorizes $800M share repurchase program Article: Why Mobility Global Stock Gained Today
• Positive Sentiment: Wells Fargo raised its price target from $23 to $29 and assigned an “overweight” rating, signaling a more bullish view. Wells Fargo recommendations
• Neutral Sentiment: JPMorgan, Baird, RBC and Barclays also increased their targets, generally to $25–$26, but retained neutral, sector-perform or equal-weight ratings. The higher targets are supportive, while the ratings suggest these firms see more limited near-term conviction. JPMorgan recommendations Baird recommendations

Mobility Global Company Profile

Mobility Global is a blank-check company formed to pursue a merger, acquisition, share exchange or similar business combination with an operating business. It does not have established products or services of its own. The company’s stated focus is the mobility sector, which may include businesses involved in transportation, automotive services, logistics and related technologies. Its activities are centered on identifying and completing a suitable business combination.