Mobileye Global (NASDAQ:MBLY) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Mobileye Global (NASDAQ:MBLY) in a research note issued to investors on Monday. The brokerage set an “underperform” rating and a $8.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential downside of 20.16% from the company’s current price.

A number of other analysts have also recently weighed in on MBLY. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Zacks Research upgraded shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Barclays dropped their price target on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. TD Cowen lifted their price target on Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Mobileye Global has an average rating of “Hold” and an average price target of $13.70.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $10.02 on Monday. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $20.18. The firm has a market capitalization of $8.43 billion, a P/E ratio of -1.99 and a beta of 1.06. The business has a 50 day simple moving average of $8.05 and a 200 day simple moving average of $9.76.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $558.00 million during the quarter, compared to the consensus estimate of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The firm’s revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. Research analysts anticipate that Mobileye Global will post -0.07 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has initiated a share buyback plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ion Asset Management Ltd. bought a new position in Mobileye Global during the 3rd quarter valued at $3,389,000. JPMorgan Chase & Co. increased its position in shares of Mobileye Global by 57.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 686,976 shares of the company’s stock valued at $9,700,000 after purchasing an additional 251,072 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Mobileye Global in the 3rd quarter worth $2,470,000. Erste Asset Management GmbH bought a new stake in shares of Mobileye Global in the 3rd quarter worth $3,665,000. Finally, Skylands Capital LLC lifted its holdings in shares of Mobileye Global by 861.0% in the third quarter. Skylands Capital LLC now owns 233,050 shares of the company’s stock valued at $3,291,000 after buying an additional 208,800 shares during the period. 13.25% of the stock is currently owned by institutional investors.

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.