Mobileye Global (NASDAQ:MBLY) Trading Up 6% – Still a Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price was up 6% on Tuesday . The company traded as high as $10.19 and last traded at $10.1060. Approximately 1,483,925 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,429,185 shares. The stock had previously closed at $9.53.

Mobileye Global News Roundup

Here are the key news stories impacting Mobileye Global this week:

• Positive Sentiment: Mobileye’s planned U.S. robotaxi launch in 2027 expands its addressable market and gives the company a new path to monetize its autonomous driving technology. Reuters: Mobileye to launch robotaxi business in US in 2027
• Positive Sentiment: Several market reports and analyst commentary suggest the robotaxi announcement helped lift sentiment toward MBLY, with one note even upgrading the stock to Strong Buy on the view that the move could support future earnings revisions. Seeking Alpha: Mobileye: Robotaxi Boosts The Bull Thesis (Rating Upgrade)
• Neutral Sentiment: Mobileye is now positioning itself on both sides of the autonomous vehicle business, which could create strategic optionality but also increases execution complexity. TechCrunch: Mobileye’s US robotaxi launch will put it on both sides of the AV business
• Negative Sentiment: Berenberg downgraded Mobileye to Hold, which may temper enthusiasm after the recent rally and reflects some caution around the stock’s valuation and near-term risk/reward. Yahoo Finance: Berenberg Downgrades Mobileye (MBLY) to Hold

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research upgraded shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. UBS Group boosted their price target on shares of Mobileye Global from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Berenberg Bank lowered shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target for the company. in a research report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Mobileye Global currently has an average rating of “Hold” and an average target price of $13.77.

Mobileye Global Stock Performance

The business’s 50-day moving average price is $9.14 and its 200 day moving average price is $9.37. The stock has a market capitalization of $7.35 billion, a PE ratio of -1.73 and a beta of 1.15.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $558.00 million during the quarter, compared to the consensus estimate of $519.34 million. During the same period in the previous year, the firm posted $0.08 EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. As a group, equities research analysts predict that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

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

Institutional Trading of Mobileye Global

Hedge funds have recently made changes to their positions in the stock. Ion Asset Management Ltd. bought a new stake in shares of Mobileye Global during the 3rd quarter worth $3,389,000. JPMorgan Chase & Co. lifted its holdings 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 worth $9,700,000 after acquiring an additional 251,072 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Mobileye Global during the 3rd quarter worth $2,470,000. Erste Asset Management GmbH bought a new stake in shares of Mobileye Global during the 3rd quarter worth $3,665,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Mobileye Global by 499.7% during the 4th quarter. SG Americas Securities LLC now owns 841,571 shares of the company’s stock worth $8,786,000 after acquiring an additional 701,242 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

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.