TD Cowen Forecasts Strong Price Appreciation for Mobileye Global (NASDAQ:MBLY) Stock

Mobileye Global (NASDAQ:MBLY) had its price target lifted by equities research analysts at TD Cowen from $15.00 to $19.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 22.03% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. HSBC began coverage on shares of Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 price objective for the company. Fox Advisors cut shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Daiwa America cut Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Westpark Capital reissued a “hold” rating on shares of Mobileye Global in a report on Wednesday, July 31st. Finally, Wolfe Research cut shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.25.

Mobileye Global Stock Performance

MBLY stock opened at $15.57 on Friday. The firm has a 50 day moving average price of $12.77 and a 200-day moving average price of $20.82. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $44.48. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of -4.27 and a beta of 0.07.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a positive return on equity of 0.60% and a negative net margin of 164.13%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts forecast that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the acquisition, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBLY. Advisors Asset Management Inc. grew its holdings in shares of Mobileye Global by 9.9% in the first quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock valued at $277,000 after purchasing an additional 774 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Mobileye Global by 24.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,299 shares of the company’s stock worth $203,000 after buying an additional 1,248 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in shares of Mobileye Global by 16.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after buying an additional 1,257 shares during the last quarter. Levin Capital Strategies L.P. lifted its holdings in shares of Mobileye Global by 11.1% in the 2nd quarter. Levin Capital Strategies L.P. now owns 14,441 shares of the company’s stock valued at $406,000 after acquiring an additional 1,441 shares during the last quarter. Finally, Lipe & Dalton raised its position in Mobileye Global by 53.6% during the first quarter. Lipe & Dalton now owns 4,300 shares of the company’s stock valued at $138,000 after purchasing an additional 1,500 shares during the period. 13.25% of the stock is owned by institutional investors.

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.