Mobileye Global (NASDAQ:MBLY) Stock Rating Lowered by Berenberg Bank

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $10.80 price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 10.54% from the stock’s previous close.

MBLY has been the topic of a number of other research reports. TD Cowen upped their target price on Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective 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. Wall Street Zen upgraded shares of Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Morgan Stanley lowered their price target on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Finally, Jefferies Financial Group initiated coverage on Mobileye Global in a research report on Monday. They set an “underperform” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.77.

Mobileye Global Stock Performance

Mobileye Global stock opened at $9.77 on Thursday. The company has a 50 day moving average price of $8.14 and a 200 day moving average price of $9.68. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $20.18. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of -1.94 and a beta of 1.06.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.Mobileye Global’s revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. Equities analysts forecast that Mobileye Global will post -0.07 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MBLY. IFP Advisors Inc lifted its holdings in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the first quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the second quarter worth $31,000. Financial Management Professionals Inc. bought a new stake in shares of Mobileye Global during the 4th quarter worth $32,000. Finally, Leonteq Securities AG acquired a new position in Mobileye Global in the 4th quarter valued at $33,000. 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.