Mobileye Global (NASDAQ:MBLY) Shares Gap Up Following Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price gapped up before the market opened on Monday after Barclays upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $11.23, but opened at $12.08. Barclays now has a $16.00 price target on the stock, down from their previous price target of $17.00. Mobileye Global shares last traded at $11.6050, with a volume of 2,927,031 shares changing hands.

A number of other analysts have also recently weighed in on the stock. Tigress Financial raised their target price on shares of Mobileye Global from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI cut their price objective on Mobileye Global from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Mizuho reduced their price objective on Mobileye Global from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Morgan Stanley cut their target price on Mobileye Global from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. Finally, TD Cowen decreased their price target on Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.26.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management boosted its holdings in Mobileye Global by 22.2% in the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Mobileye Global by 2.5% during 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 in the last quarter. Cresset Asset Management LLC increased its holdings in shares of 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 last quarter. Country Club Bank increased its holdings in shares of Mobileye Global by 0.8% during the 3rd quarter. Country Club Bank now owns 144,803 shares of the company’s stock valued at $2,048,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Mobileye Global by 5.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 22,164 shares of the company’s stock valued at $313,000 after acquiring an additional 1,205 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Trading Up 2.5%

The company has a fifty day moving average of $11.52 and a two-hundred day moving average of $13.81. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of -27.40, a price-to-earnings-growth ratio of 2.81 and a beta of 0.57.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a positive return on equity of 0.68% and a negative net margin of 17.34%.The company had revenue of $504.00 million for the quarter, compared to the consensus estimate of $479.93 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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.