Brokerages Set Mobileye Global Inc. (NASDAQ:MBLY) Target Price at $12.64

Mobileye Global Inc. (NASDAQ:MBLY) has received an average recommendation of “Hold” from the twenty-five analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.6364.

Several equities analysts have commented on the company. Zacks Research upgraded Mobileye Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. The Goldman Sachs Group upped their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 24th. BNP Paribas Exane cut their target price on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Mobileye Global in a research report on Friday, July 24th.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $8.42 on Friday. The company has a fifty day moving average of $9.05 and a 200-day moving average of $8.80. The company has a market capitalization of $7.07 billion, a PE ratio of -1.69, a price-to-earnings-growth ratio of 2.88 and a beta of 1.20. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $15.81.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. The company had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.Mobileye Global’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. On average, equities analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Mobileye Global declared that its board has initiated a stock buyback plan on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Frank D. Yeary purchased 12,360 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the acquisition, the director owned 12,360 shares in the company, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MBLY. BCGM Wealth Management LLC lifted its stake in shares of Mobileye Global by 56.7% in the first quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company’s stock worth $2,533,000 after acquiring an additional 133,471 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Mobileye Global by 24.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after acquiring an additional 705,400 shares during the last quarter. Engineers Gate Manager LP increased its position in Mobileye Global by 140.9% during the 4th 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 period. Y Intercept Hong Kong Ltd increased its position in Mobileye Global by 977.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 218,016 shares of the company’s stock valued at $1,498,000 after purchasing an additional 197,781 shares during the period. Finally, First Trust Advisors LP raised its holdings in Mobileye Global by 27.7% during the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after purchasing an additional 249,921 shares during 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.