Mobileye Global (NASDAQ:MBLY) Trading Up 8.7% – Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY) shot up 8.7% on Tuesday . The stock traded as high as $9.01 and last traded at $9.0190. Approximately 2,069,688 shares were traded during trading, a decline of 72% from the average session volume of 7,368,393 shares. The stock had previously closed at $8.30.

Wall Street Analysts Forecast Growth

MBLY has been the subject of a number of analyst reports. Mizuho upped their price target on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mobileye Global in a report on Monday, April 27th. Wall Street Zen upgraded shares of Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Finally, TD Cowen increased their price objective on shares of Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and an average target price of $13.77.

Mobileye Global Price Performance

The firm’s 50-day moving average price is $9.25 and its 200-day moving average price is $9.17. The stock has a market cap of $7.80 billion, a P/E ratio of -1.85 and a beta of 1.15.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. Mobileye Global’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. Sell-side analysts expect that Mobileye Global Inc. will post -0.09 earnings per share for the current year.

Mobileye Global declared that its Board of Directors has authorized a share buyback plan on Thursday, April 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MAI Capital Management raised its position in Mobileye Global by 22.2% during the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock valued at $62,000 after purchasing an additional 800 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in shares of Mobileye Global by 6.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock worth $168,000 after purchasing an additional 957 shares during the period. Sei Investments Co. boosted its holdings in shares of Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after purchasing an additional 1,090 shares during the period. Cresset Asset Management LLC increased its position 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 purchasing an additional 1,110 shares during the last quarter. Finally, Greenfield Seitz Capital Management LLC increased its position in shares of Mobileye Global by 5.5% during the 4th quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock valued at $281,000 after purchasing an additional 1,393 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

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.