Mobileye Global (NASDAQ:MBLY) Shares Up 6.7% – Still a Buy?

Mobileye Global Inc. (NASDAQ:MBLY)’s share price shot up 6.7% during mid-day trading on Friday . The company traded as high as $17.12 and last traded at $17.40. 527,981 shares traded hands during trading, a decline of 93% from the average session volume of 8,024,903 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MBLY. The Goldman Sachs Group dropped their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird increased their price target on Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Finally, Mizuho dropped their price objective on shares of Mobileye Global from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.05.

Mobileye Global Trading Up 1.3 %

The company has a market capitalization of $13.40 billion, a PE ratio of -4.53, a PEG ratio of 10.97 and a beta of 0.30. The business has a fifty day moving average of $17.77 and a 200 day moving average of $15.94.

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 analysts’ consensus estimates 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%. Equities analysts forecast that Mobileye Global Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in Mobileye Global by 49.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock worth $186,194,000 after acquiring an additional 4,517,217 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 period. Loomis Sayles & Co. L P boosted its holdings in shares of Mobileye Global by 85.3% in the third 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 period. Principal Financial Group Inc. purchased a new position in shares of Mobileye Global during the fourth quarter worth approximately $12,202,000. Finally, Melqart Asset Management UK Ltd acquired a new position in shares of Mobileye Global in the 3rd quarter valued at $4,978,000. Institutional investors and hedge funds 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.