Mobileye Global (NASDAQ:MBLY) Stock Rating Upgraded by Jefferies Financial Group

Mobileye Global (NASDAQ:MBLY) was upgraded by analysts at Jefferies Financial Group to a “moderate sell” rating in a report issued on Saturday,Zacks.com reports.

MBLY has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mobileye Global in a research note on Monday, April 27th. HSBC lowered Mobileye Global from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Friday, January 23rd. Tigress Financial reiterated a “buy” rating and set a $25.00 target price on shares of Mobileye Global in a research note on Thursday, January 29th. BNP Paribas Exane lowered their target price on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Finally, UBS Group increased their target price on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Mobileye Global currently has an average rating of “Hold” and an average price target of $13.70.

Mobileye Global Stock Down 6.8%

NASDAQ:MBLY opened at $9.34 on Friday. The stock’s 50 day moving average price is $8.08 and its two-hundred day moving average price is $9.73. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of -1.85 and a beta of 1.06. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $20.18.

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

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

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently made changes to their positions in MBLY. Burkehill Global Management LP bought a new position in shares of Mobileye Global during the third quarter worth approximately $42,360,000. DNB Asset Management AS acquired a new stake in Mobileye Global during the third quarter worth approximately $40,212,000. Two Sigma Investments LP grew its position in 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 buying an additional 2,493,181 shares in the last quarter. Engineers Gate Manager LP grew its position in Mobileye Global by 140.9% during the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after buying an additional 2,092,250 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Mobileye Global by 436.0% during the third quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock worth $35,156,000 after buying an additional 2,025,257 shares in 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.