Mobileye Global (NASDAQ:MBLY) Coverage Initiated at Berenberg Bank

Stock analysts at Berenberg Bank began coverage on shares of Mobileye Global (NASDAQ:MBLY) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $9.30 price target on the stock. Berenberg Bank’s target price indicates a potential upside of 24.83% from the company’s current price.

Several other equities analysts also recently weighed in on MBLY. Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Monday, January 12th. Barclays cut their price objective on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday. Needham & Company LLC reduced their price objective on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada decreased their target price on shares of Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobileye Global in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.48.

Mobileye Global Stock Up 0.8%

Shares of MBLY opened at $7.45 on Wednesday. The stock has a market cap of $6.27 billion, a P/E ratio of -15.20 and a beta of 0.75. The business’s 50 day moving average price is $8.40 and its 200-day moving average price is $11.03. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The company had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. During the same quarter last year, the company earned $0.13 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts anticipate that Mobileye Global will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Intel Corp bought a new stake in shares of Mobileye Global in the third quarter worth approximately $706,000,000. Two Sigma Investments LP boosted its holdings in Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after purchasing an additional 2,092,250 shares during the last quarter. DNB Asset Management AS grew its position in Mobileye Global by 23.1% in the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company’s stock worth $36,608,000 after purchasing an additional 658,585 shares during the period. Finally, Vanguard Group Inc. grew its position in Mobileye Global by 65.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company’s stock worth $43,286,000 after purchasing an additional 1,213,448 shares during the period. Institutional investors own 13.25% of the company’s stock.

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.