Mobileye Global (NASDAQ:MBLY) Shares Gap Up – Should You Buy?

Mobileye Global Inc. (NASDAQ:MBLY) gapped up before the market opened on Tuesday . The stock had previously closed at $15.26, but opened at $17.30. Mobileye Global shares last traded at $16.21, with a volume of 2,758,768 shares traded.

Wall Street Analyst Weigh In

MBLY has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Mobileye Global from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Loop Capital boosted their price objective on shares of Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Oppenheimer initiated coverage on Mobileye Global in a report on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $11.00 price objective on shares of Mobileye Global in a report on Thursday, December 5th. Finally, Mizuho cut their target price on Mobileye Global from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.24.

Mobileye Global Price Performance

The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of -4.27, a P/E/G ratio of 69.54 and a beta of 0.29. The business’s 50-day moving average price is $16.10 and its two-hundred day moving average price is $15.66.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. As a group, research analysts predict that Mobileye Global Inc. 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 modified their holdings of the business. Norges Bank bought a new position in shares of Mobileye Global in the fourth quarter worth about $95,937,000. The Manufacturers Life Insurance Company lifted its stake in Mobileye Global by 49.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock valued at $186,194,000 after purchasing an additional 4,517,217 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Mobileye Global in the fourth quarter valued at approximately $27,155,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after buying an additional 957,565 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Mobileye Global by 85.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after acquiring an additional 768,169 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.