Mobileye Global (NASDAQ:MBLY) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Mobileye Global (NASDAQ:MBLY) from a neutral rating to an overweight rating in a research report report published on Monday morning, MarketBeat reports. Piper Sandler currently has $12.00 target price on the stock, up from their previous target price of $10.00.

Several other research analysts also recently commented on MBLY. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective for the company. Weiss Ratings raised shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Barclays dropped their target price on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. TD Cowen cut their price target on Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a report on Friday, July 24th. Finally, The Goldman Sachs Group lifted their price target on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.95.

Mobileye Global Stock Performance

Shares of MBLY stock opened at $8.01 on Monday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of -1.61, a P/E/G ratio of 2.88 and a beta of 1.16. The firm’s 50-day simple moving average is $9.27 and its two-hundred day simple moving average is $8.91. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $15.81.

Mobileye Global (NASDAQ:MBLY) last issued 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 firm had revenue of $508.00 million for 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%.The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Analysts forecast that Mobileye Global will post 0.11 earnings per share for the current year.

Mobileye Global declared that its Board of Directors has authorized a share repurchase program on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Mobileye Global

A number of large investors have recently modified their holdings of MBLY. Sei Investments Co. lifted its holdings in shares of Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after acquiring an additional 1,090 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Mobileye Global by 6.3% in the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after purchasing an additional 1,110 shares in the last quarter. Greenfield Seitz Capital Management LLC grew its holdings in shares of Mobileye Global by 5.5% during the 4th quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock valued at $281,000 after purchasing an additional 1,393 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after purchasing an additional 1,495 shares during the last quarter. Finally, Creative Planning raised its position in Mobileye Global by 10.2% in the 2nd quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after purchasing an additional 1,693 shares during the period. 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.