Mobileye Global (NASDAQ:MBLY) Stock Rating Upgraded by Jefferies Financial Group

Mobileye Global (NASDAQ:MBLY) was upgraded by equities researchers at Jefferies Financial Group to a “moderate sell” rating in a note issued to investors on Saturday,Zacks.com reports.

A number of other brokerages also recently issued reports on MBLY. HSBC downgraded Mobileye Global from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Friday, January 23rd. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. reduced their target price on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Berenberg Bank assumed coverage on Mobileye Global in a report on Wednesday, April 1st. They issued a “buy” rating and a $9.30 target price on the stock. Finally, Wells Fargo & Company reduced their target price on Mobileye Global from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.70.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $9.34 on Friday. The company has a market capitalization of $7.86 billion, a P/E ratio of -1.85 and a beta of 1.06. Mobileye Global has a 1 year low of $6.47 and a 1 year high of $20.18. The business’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $9.73.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, sell-side analysts anticipate that Mobileye Global will post -0.07 EPS for the current fiscal year.

Mobileye Global announced that its board has authorized a stock buyback plan on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans 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 bought and sold shares of the company. IFP Advisors Inc increased its holdings in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers acquired a new position in Mobileye Global in the 1st quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Mobileye Global in the 2nd quarter worth about $31,000. Financial Management Professionals Inc. acquired a new position in Mobileye Global in the 4th quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new position in Mobileye Global in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

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.