Mobileye Global (NASDAQ:MBLY) Given New $18.00 Price Target at Tigress Financial

by · The Markets Daily

Mobileye Global (NASDAQ:MBLY – Get Free Report) had its target price cut by equities research analysts at Tigress Financial from $25.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price objective indicates a potential upside of 127.42% from the company’s previous close.

A number of other brokerages have also weighed in on MBLY. TD Cowen dropped their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Canaccord Genuity Group decreased their price target on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Zacks Research raised shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. BNP Paribas Exane cut their price objective on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, Mizuho reduced their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.64.

Check Out Our Latest Report on MBLY

Mobileye Global Stock Performance

Shares of NASDAQ MBLY traded down $0.10 during midday trading on Thursday, reaching $7.92. The stock had a trading volume of 1,582,213 shares, compared to its average volume of 7,614,319. The stock has a 50-day moving average of $9.27 and a 200-day moving average of $8.91. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -1.59, a price-to-earnings-growth ratio of 2.88 and a beta of 1.16. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81.

Mobileye Global (NASDAQ:MBLY – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The business had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue was up .4% on a year-over-year basis. As a group, analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Mobileye Global announced that its board 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 repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Mobileye Global by 10.7% in the first quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after acquiring an additional 3,019 shares during the period. Rhumbline Advisers bought a new stake in Mobileye Global in the first quarter worth about $27,000. Creative Planning lifted its stake in Mobileye Global by 10.2% in the second 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 last quarter. Cetera Investment Advisers bought a new position in shares of Mobileye Global during the second quarter valued at approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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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.

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