Mobileye Global (NASDAQ:MBLY) Shares Gap Up After Analyst Upgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s share price gapped up before the market opened on Monday after Mizuho raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $14.99, but opened at $16.18. Mizuho currently has a neutral rating on the stock. Mobileye Global shares last traded at $16.09, with a volume of 3,095,087 shares trading hands.

A number of other equities analysts also recently commented on MBLY. Needham & Company LLC reduced their price objective on shares of Mobileye Global from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, November 1st. BNP Paribas cut Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research note on Wednesday, October 2nd. Daiwa America lowered Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird increased their price target on shares of Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group cut their price objective on shares of Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.14.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in shares of Mobileye Global by 11.6% in the first quarter. Sei Investments Co. now owns 144,060 shares of the company’s stock valued at $4,632,000 after purchasing an additional 14,949 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Mobileye Global during the 1st quarter worth approximately $1,723,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Mobileye Global during the 1st quarter worth approximately $1,294,000. Vanguard Group Inc. lifted its holdings in Mobileye Global by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,175,404 shares of the company’s stock valued at $37,789,000 after acquiring an additional 17,692 shares during the last quarter. Finally, Thornburg Investment Management Inc. purchased a new position in Mobileye Global in the first quarter worth approximately $28,105,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Price Performance

The company has a market cap of $13.59 billion, a price-to-earnings ratio of -4.59 and a beta of 0.07. The firm has a 50 day simple moving average of $13.26 and a 200-day simple moving average of $19.71.

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.