Mobileye Global (NASDAQ:MBLY) Rating Increased to Strong-Buy at Zacks Research

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

Several other brokerages also recently issued reports on MBLY. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Mobileye Global in a report on Friday, July 24th. UBS Group dropped their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Mizuho cut their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $12.00 in a research note on Monday, July 27th. Finally, Tigress Financial decreased their target price on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.16.

Mobileye Global Trading Down 3.9%

Shares of Mobileye Global stock opened at $7.68 on Monday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -1.54, a PEG ratio of 2.62 and a beta of 1.22. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $15.81. The business’s 50 day simple moving average is $8.49 and its 200-day simple moving average is $8.63.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The business had revenue of $508.00 million during the quarter, compared to analyst estimates of $480.51 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts predict that Mobileye Global will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of Mobileye Global stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the transaction, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. The trade was a 16.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Yeary purchased 12,360 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was acquired at an average cost of $7.98 per share, with a total value of $98,632.80. Following the purchase, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in shares of Mobileye Global by 17.8% in the second quarter. Tidal Investments LLC now owns 159,149 shares of the company’s stock valued at $1,541,000 after buying an additional 24,088 shares during the period. WINTON GROUP Ltd grew its holdings in Mobileye Global by 185.7% during the second quarter. WINTON GROUP Ltd now owns 147,700 shares of the company’s stock worth $1,430,000 after acquiring an additional 96,000 shares during the period. Integrated Wealth Concepts LLC raised its position in Mobileye Global by 11.0% in the second quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock worth $169,000 after acquiring an additional 1,732 shares in the last quarter. Allworth Financial LP raised its position in Mobileye Global by 63.6% in the second quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after acquiring an additional 1,535 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Mobileye Global in the 2nd quarter valued at about $77,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc is a technology company that develops advanced driver-assistance systems (ADAS) and autonomous driving solutions for vehicle manufacturers and mobility providers. Its technologies use computer vision, artificial intelligence, mapping and sensor systems to help vehicles detect road conditions, identify hazards and support safer driving.

The company’s product portfolio includes EyeQ system-on-chip platforms, camera-based safety features such as automatic emergency braking and lane-keeping assistance, and more advanced systems marketed under names including Mobileye SuperVision and Mobileye Drive.