Royal Bank Of Canada Issues Positive Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its target price upped by research analysts at Royal Bank Of Canada from $9.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 4.00% from the company’s current price.

MBLY has been the topic of a number of other research reports. BNP Paribas Exane cut their price target on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Weiss Ratings upgraded shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Mizuho boosted their price objective on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.64.

Mobileye Global Stock Up 0.7%

Shares of NASDAQ:MBLY traded up $0.07 during trading on Monday, reaching $9.62. 1,950,493 shares of the company traded hands, compared to its average volume of 7,443,738. Mobileye Global has a 1-year low of $6.47 and a 1-year high of $17.12. The firm has a fifty day simple moving average of $9.44 and a 200 day simple moving average of $9.11. The firm has a market cap of $8.09 billion, a P/E ratio of -1.92 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The company 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 was up 27.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. As a group, research analysts anticipate that Mobileye Global will post -0.09 EPS for the current year.

Mobileye Global announced that its Board of Directors has initiated a share buyback plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently modified their holdings of the business. Dynamic Advisor Solutions LLC grew its stake in shares of Mobileye Global by 6.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock valued at $168,000 after buying an additional 957 shares during the last quarter. Sei Investments Co. boosted its holdings in Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after acquiring an additional 1,090 shares during the period. Cresset Asset Management LLC boosted its holdings in Mobileye Global by 6.3% during the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after acquiring an additional 1,110 shares during the period. Greenfield Seitz Capital Management LLC grew its position in Mobileye Global by 5.5% during the 4th quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock worth $281,000 after acquiring an additional 1,393 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after acquiring an additional 1,495 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

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.