Mobileye Global (NASDAQ:MBLY) Earns Buy Rating from Analysts at Berenberg Bank

Equities research analysts at Berenberg Bank began coverage on shares of Mobileye Global (NASDAQ:MBLY) in a report released on Wednesday. The firm set a “buy” rating and a $9.30 price target on the stock. Berenberg Bank’s target price points to a potential upside of 35.37% from the company’s current price.

MBLY has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mobileye Global in a research note on Wednesday, January 28th. Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. Royal Bank Of Canada decreased their target price on Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating for the company in a research report on Friday, January 23rd. Needham & Company LLC dropped their price target on Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Finally, Tigress Financial reaffirmed a “buy” rating and set a $25.00 price target on shares of Mobileye Global in a research report on Thursday, January 29th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.48.

Mobileye Global Stock Up 4.7%

MBLY stock opened at $6.87 on Wednesday. The business has a 50 day moving average price of $8.53 and a 200 day moving average price of $11.08. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -14.02 and a beta of 0.59. Mobileye Global has a fifty-two week low of $6.47 and a fifty-two week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Mobileye Global will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently made changes to their positions in MBLY. NewEdge Advisors LLC raised its stake in Mobileye Global by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after acquiring an additional 3,019 shares during the last quarter. Rhumbline Advisers acquired a new stake in Mobileye Global during the 1st quarter worth approximately $27,000. Creative Planning grew its stake in shares of Mobileye Global by 10.2% in the 2nd quarter. Creative Planning now owns 18,316 shares of the company’s stock valued at $329,000 after purchasing an additional 1,693 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Mobileye Global in the second quarter valued at approximately $351,000. Finally, Swiss National Bank acquired a new position in shares of Mobileye Global in the second quarter valued at approximately $3,441,000. Hedge funds and other institutional investors 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.