Mobileye Global (NASDAQ:MBLY) Trading Up 9.1% – Time to Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price was up 9.1% on Wednesday . The stock traded as high as $10.13 and last traded at $10.07. Approximately 3,816,194 shares traded hands during trading, a decline of 51% from the average daily volume of 7,773,283 shares. The stock had previously closed at $9.23.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MBLY shares. The Goldman Sachs Group lifted their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Mizuho lifted their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Zacks Research raised Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Needham & Company LLC decreased their target price on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Mobileye Global has an average rating of “Hold” and an average target price of $13.98.

Mobileye Global Stock Performance

The stock has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $9.83. The company has a market capitalization of $8.84 billion, a PE ratio of -2.10 and a beta of 1.06.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $0.08 EPS. The business’s quarterly revenue was up 27.4% on a year-over-year basis. Sell-side analysts predict that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global during the 2nd quarter worth about $31,000. IFP Advisors Inc lifted its stake in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the first quarter worth $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global in the fourth quarter worth $32,000. Finally, Leonteq Securities AG acquired a new stake in shares of Mobileye Global in the fourth quarter worth $33,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.