Mobileye Global (NASDAQ:MBLY) Given Buy Rating at Needham & Company LLC

Mobileye Global (NASDAQ:MBLY)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $20.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 22.62% from the company’s previous close.

MBLY has been the topic of several other research reports. Canaccord Genuity Group cut their target price on Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down previously from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Barclays lifted their price target on shares of Mobileye Global from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. TD Cowen raised their price objective on shares of Mobileye Global from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI cut their target price on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.15.

Mobileye Global Stock Performance

Shares of MBLY opened at $16.31 on Friday. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $34.00. The company’s fifty day moving average is $17.80 and its 200 day moving average is $16.09. The stock has a market capitalization of $13.23 billion, a PE ratio of -4.47, a P/E/G ratio of 10.97 and a beta of 0.30.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative net margin of 164.13% and a positive return on equity of 0.63%. As a group, research analysts forecast that Mobileye Global will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in shares of Mobileye Global by 140.2% during the third quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after buying an additional 1,061 shares during the last quarter. Versant Capital Management Inc lifted its position in Mobileye Global by 580.0% during the fourth quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after acquiring an additional 1,131 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Mobileye Global in the fourth quarter valued at approximately $30,000. Quarry LP purchased a new position in Mobileye Global in the third quarter worth $31,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mobileye Global during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.