TD Cowen Issues Positive Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its price objective hoisted by stock analysts at TD Cowen from $10.00 to $11.50 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 18.74% from the company’s previous close.

MBLY has been the subject of a number of other research reports. Royal Bank Of Canada raised their price target on shares of Mobileye Global from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Monday. The Goldman Sachs Group upped their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, April 24th. JPMorgan Chase & Co. lowered their price objective on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. UBS Group raised their target price on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group initiated coverage on Mobileye Global in a research report on Monday, May 18th. They issued an “underperform” rating and a $8.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.70.

Mobileye Global Stock Performance

Shares of MBLY stock traded up $0.14 on Monday, hitting $9.69. 3,463,254 shares of the stock traded hands, compared to its average volume of 7,454,857. The firm’s 50-day moving average price is $9.44 and its two-hundred day moving average price is $9.11. The stock has a market capitalization of $8.15 billion, a PE ratio of -1.92 and a beta of 1.16. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $17.12.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The firm had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Mobileye Global’s quarterly revenue was up 27.4% on a year-over-year basis. On average, equities research analysts anticipate that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global announced that its board has initiated a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Mobileye Global

Hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP increased its holdings in Mobileye Global by 131.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after purchasing an additional 2,493,181 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after buying an additional 705,400 shares during the period. Engineers Gate Manager LP grew its stake in shares of Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after buying an additional 2,092,250 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of Mobileye Global by 23.1% in the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company’s stock valued at $36,608,000 after buying an additional 658,585 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Mobileye Global by 65.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company’s stock worth $43,286,000 after acquiring an additional 1,213,448 shares in the last quarter. Hedge funds and other institutional investors 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.