Mobileye Global (NASDAQ:MBLY) Earns Buy Rating from Needham & Company LLC

Mobileye Global (NASDAQ:MBLY)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $20.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 26.98% from the company’s current price.

A number of other research firms also recently issued reports on MBLY. UBS Group raised their price objective on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Piper Sandler lifted their price target on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 price objective on shares of Mobileye Global in a research report on Thursday, December 5th. Barclays raised their target price on Mobileye Global from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Loop Capital boosted their price target on Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.24.

Mobileye Global Price Performance

NASDAQ MBLY opened at $15.75 on Wednesday. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of -4.12, a PEG ratio of 69.54 and a beta of 0.29. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $34.00. The business’s fifty day moving average price is $16.08 and its 200-day moving average price is $15.70.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. Equities research analysts anticipate that Mobileye Global will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Mobileye Global in the fourth quarter worth about $95,937,000. The Manufacturers Life Insurance Company increased its stake in Mobileye Global by 49.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock worth $186,194,000 after acquiring an additional 4,517,217 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Mobileye Global during the 4th quarter worth approximately $27,155,000. Charles Schwab Investment Management Inc. boosted its position in shares of Mobileye Global by 168.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock valued at $20,909,000 after acquiring an additional 957,565 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Mobileye Global by 85.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after purchasing an additional 768,169 shares in the last quarter. Hedge funds and other institutional investors 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.