Zacks Research Upgrades Mobileye Global (NASDAQ:MBLY) to “Strong-Buy”

Mobileye Global (NASDAQ:MBLY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also commented on MBLY. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada lifted their price objective on Mobileye Global from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. JPMorgan Chase & Co. reduced their target price on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. TD Cowen upped their target price on shares of Mobileye Global from $10.00 to $11.50 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Barclays dropped their target price on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mobileye Global has a consensus rating of “Hold” and an average price target of $13.70.

Mobileye Global Stock Up 0.4%

NASDAQ MBLY opened at $8.99 on Monday. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $17.12. The stock has a market cap of $7.56 billion, a P/E ratio of -1.78 and a beta of 1.16. The company’s 50-day simple moving average is $9.49 and its 200 day simple moving average is $9.06.

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

Mobileye Global announced that its Board of Directors has approved a stock repurchase program on Thursday, April 23rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Burkehill Global Management LP bought a new stake in Mobileye Global during the 3rd quarter worth about $42,360,000. Two Sigma Investments LP lifted its position in shares of Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Mobileye Global during the second quarter valued at approximately $23,423,000. Engineers Gate Manager LP grew its stake in shares of Mobileye Global by 140.9% during the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after purchasing an additional 2,092,250 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Mobileye Global by 436.0% in the third quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after purchasing an additional 2,025,257 shares in the last quarter. 13.25% of the stock is 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.