Mobileye Global (NASDAQ:MBLY) Rating Reiterated by Needham & Company LLC

Mobileye Global (NASDAQ:MBLY)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $36.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 23.29% from the stock’s current price.

A number of other research firms also recently commented on MBLY. Bank of America downgraded shares of Mobileye Global from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $47.00 to $22.00 in a research report on Thursday, January 4th. Morgan Stanley downgraded shares of Mobileye Global from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $25.00 in a research report on Friday. Robert W. Baird lowered their price objective on shares of Mobileye Global from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Raymond James lowered their price objective on shares of Mobileye Global from $48.00 to $40.00 in a research report on Monday, January 22nd. Finally, Mizuho lowered their price objective on shares of Mobileye Global from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Mobileye Global Price Performance

NASDAQ MBLY opened at $29.20 on Friday. The firm’s fifty day moving average price is $29.23 and its 200 day moving average price is $33.36. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of -139.05, a price-to-earnings-growth ratio of 13.57 and a beta of -0.21. Mobileye Global has a 12 month low of $23.49 and a 12 month high of $47.41.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 25th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $637.53 million. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Mobileye Global will post 0.14 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, Director Patrick P. Gelsinger acquired 3,600 shares of Mobileye Global stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $27.75 per share, for a total transaction of $99,900.00. Following the completion of the purchase, the director now directly owns 129,095 shares of the company’s stock, valued at $3,582,386.25. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Mobileye Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. lifted its stake in shares of Mobileye Global by 15.7% in the first quarter. Pinnacle Associates Ltd. now owns 8,840 shares of the company’s stock valued at $284,000 after purchasing an additional 1,200 shares during the period. Peregrine Capital Management LLC acquired a new position in Mobileye Global during the first quarter worth about $34,684,000. Verdence Capital Advisors LLC acquired a new position in Mobileye Global during the first quarter worth about $465,000. Long Run Wealth Advisors LLC raised its position in Mobileye Global by 23.5% during the first quarter. Long Run Wealth Advisors LLC now owns 71,945 shares of the company’s stock worth $2,313,000 after acquiring an additional 13,684 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in Mobileye Global by 94.7% during the first quarter. Newbridge Financial Services Group Inc. now owns 3,449 shares of the company’s stock worth $111,000 after acquiring an additional 1,678 shares during the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.