Mobileye Global (NASDAQ:MBLY) Raised to “Overweight” at Piper Sandler

Mobileye Global (NASDAQ:MBLY) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Monday,Benzinga reports. The brokerage presently has a $12.00 target price on the stock, up from their previous target price of $10.00. Piper Sandler’s target price would indicate a potential upside of 49.07% from the stock’s previous close.

MBLY has been the subject of several other research reports. Barclays decreased their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Jefferies Financial Group began coverage on shares of Mobileye Global in a research report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price target for the company. Royal Bank Of Canada decreased their price target on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating for the company in a research note on Friday. BNP Paribas Exane lowered their price objective on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Finally, Mizuho dropped 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 note on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.95.

Mobileye Global Price Performance

Shares of MBLY opened at $8.05 on Monday. Mobileye Global has a one year low of $6.47 and a one year high of $15.81. The company has a market cap of $6.77 billion, a PE ratio of -1.61 and a beta of 1.16. The stock has a 50-day moving average of $9.36 and a 200-day moving average of $8.99.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. Analysts expect that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Mobileye Global

Several institutional investors have recently made changes to their positions in MBLY. Sei Investments Co. grew its position in Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after purchasing an additional 1,090 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Mobileye Global by 6.3% in the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after acquiring an additional 1,110 shares in the last quarter. Greenfield Seitz Capital Management LLC grew its holdings in shares of Mobileye Global by 5.5% in the fourth quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock valued at $281,000 after acquiring an additional 1,393 shares in the last quarter. IFP Advisors Inc increased its position in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after acquiring an additional 1,495 shares during the last quarter. Finally, Creative Planning increased its position in shares of Mobileye Global by 10.2% during the second quarter. Creative Planning now owns 18,316 shares of the company’s stock valued at $329,000 after acquiring an additional 1,693 shares during the last quarter. 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.