Mobileye Global’s (MBLY) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Mobileye Global (NASDAQ:MBLY) in a research note published on Friday, Benzinga reports. They currently have a $36.00 price objective on the stock.

A number of other brokerages have also recently issued reports on MBLY. Piper Sandler started coverage on Mobileye Global in a report on Friday, March 15th. They issued a neutral rating and a $31.00 target price for the company. Mizuho dropped their price objective on Mobileye Global from $42.00 to $38.00 and set a buy rating for the company in a research note on Friday, January 26th. Morgan Stanley downgraded shares of Mobileye Global from an equal weight rating to an underweight rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Friday. Barclays dropped their target price on shares of Mobileye Global from $46.00 to $43.00 and set an overweight rating for the company in a research report on Friday, January 26th. Finally, TD Cowen upped their price objective on shares of Mobileye Global from $35.00 to $37.00 and gave the stock a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Mobileye Global has an average rating of Moderate Buy and a consensus price target of $41.58.

Mobileye Global Trading Down 5.5 %

MBLY opened at $29.20 on Friday. Mobileye Global has a fifty-two week low of $23.49 and a fifty-two week high of $47.41. The firm’s fifty day moving average price is $29.23 and its two-hundred day moving average price is $33.33.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $637.53 million. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Mobileye Global will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently modified their holdings of the business. Pinnacle Associates Ltd. boosted its stake in Mobileye Global by 15.7% in the first quarter. Pinnacle Associates Ltd. now owns 8,840 shares of the company’s stock valued at $284,000 after acquiring an additional 1,200 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of Mobileye Global in the 1st quarter worth $34,684,000. Verdence Capital Advisors LLC acquired a new stake in shares of Mobileye Global during the first quarter worth $465,000. Long Run Wealth Advisors LLC increased its holdings in Mobileye Global by 23.5% in the first quarter. Long Run Wealth Advisors LLC now owns 71,945 shares of the company’s stock valued at $2,313,000 after purchasing an additional 13,684 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Mobileye Global by 94.7% in the first quarter. Newbridge Financial Services Group Inc. now owns 3,449 shares of the company’s stock valued at $111,000 after buying an additional 1,678 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.