Mobileye Global (NASDAQ:MBLY) Shares Gap Up to $30.13

Mobileye Global Inc. (NASDAQ:MBLY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $30.13, but opened at $31.43. Mobileye Global shares last traded at $31.55, with a volume of 481,047 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MBLY. Barclays reduced their price target on shares of Mobileye Global from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Piper Sandler began coverage on shares of Mobileye Global in a research report on Friday, March 15th. They set a “neutral” rating and a $31.00 price target on the stock. TD Cowen reduced their price target on shares of Mobileye Global from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Bank of America cut shares of Mobileye Global from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $47.00 to $22.00 in a research report on Thursday, January 4th. Finally, Raymond James reduced their price target on shares of Mobileye Global from $48.00 to $40.00 in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Mobileye Global presently has a consensus rating of “Moderate Buy” and an average target price of $43.91.

Mobileye Global Price Performance

The company has a market capitalization of $24.97 billion, a PE ratio of -774.50, a price-to-earnings-growth ratio of 14.86 and a beta of -0.21. The company’s 50 day simple moving average is $28.78 and its 200 day simple moving average is $33.83.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $637.53 million. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Mobileye Global Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Patrick P. Gelsinger acquired 3,600 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $27.75 per share, with a total value of $99,900.00. Following the completion of the acquisition, the director now owns 129,095 shares of the company’s stock, valued at $3,582,386.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently modified their holdings of MBLY. LPL Financial LLC acquired a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $201,000. UBS Group AG acquired a new stake in shares of Mobileye Global during the fourth quarter worth $387,000. Advisor Group Holdings Inc. acquired a new stake in shares of Mobileye Global during the fourth quarter worth $209,000. Sei Investments Co. acquired a new stake in shares of Mobileye Global during the fourth quarter worth $1,186,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Mobileye Global during the fourth quarter worth $5,562,000. 13.25% of the stock is owned by institutional investors and hedge funds.

About Mobileye Global

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.