Mobileye Global (NASDAQ:MBLY) Given New $37.00 Price Target at Canaccord Genuity Group

Mobileye Global (NASDAQ:MBLY) had its price objective increased by Canaccord Genuity Group from $31.00 to $37.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

MBLY has been the topic of several other reports. Royal Bank of Canada reduced their target price on Mobileye Global from $45.00 to $39.00 and set an outperform rating on the stock in a research note on Friday, January 26th. Mizuho reduced their price target on Mobileye Global from $42.00 to $38.00 and set a buy rating on the stock in a research note on Friday, January 26th. Piper Sandler initiated coverage on Mobileye Global in a research note on Friday, March 15th. They issued a neutral rating and a $31.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Mobileye Global from $34.00 to $38.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, Wolfe Research raised Mobileye Global from a peer perform rating to an outperform rating and set a $41.00 target price on the stock in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $41.70.

Mobileye Global Stock Performance

MBLY opened at $29.20 on Friday. Mobileye Global has a 52-week low of $23.49 and a 52-week high of $47.41. The stock has a market capitalization of $23.54 billion, a PE ratio of -139.04, a price-to-earnings-growth ratio of 14.36 and a beta of -0.21. The stock’s 50 day moving average price is $29.23 and its 200-day moving average price is $33.40.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, January 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Mobileye Global had a positive return on equity of 1.75% and a negative net margin of 8.92%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $637.53 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Research analysts forecast that Mobileye Global will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 3,600 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $27.75 per share, for a total transaction of $99,900.00. Following the completion of the transaction, the director now owns 129,095 shares of the company’s stock, valued at approximately $3,582,386.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC purchased a new position in shares of Mobileye Global during the third quarter worth $25,000. Principal Securities Inc. purchased a new position in shares of Mobileye Global during the fourth quarter worth $28,000. Register Financial Advisors LLC purchased a new position in shares of Mobileye Global during the first quarter worth $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Mobileye Global during the third quarter worth $35,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Mobileye Global by 33.3% during the third quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock worth $50,000 after buying an additional 300 shares during the period. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

About Mobileye Global

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.