Mobileye Global (NASDAQ:MBLY) Rating Increased to Neutral at Bank of America

Bank of America upgraded shares of Mobileye Global (NASDAQ:MBLY) from an underperform rating to a neutral rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $19.00 price target on the stock, up from their prior price target of $12.00.

MBLY has been the subject of several other research reports. Robert W. Baird increased their target price on shares of Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a research note on Friday, January 31st. Loop Capital increased their target price on shares of Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays increased their target price on shares of Mobileye Global from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their target price 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, January 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.86.

Mobileye Global Price Performance

MBLY stock opened at $16.72 on Monday. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $34.00. The company has a 50-day moving average of $17.57 and a two-hundred day moving average of $15.54. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 20.12 and a beta of 0.26.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.33%. Equities analysts expect that Mobileye Global will post 0.03 EPS for the current fiscal year.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of Mobileye Global by 49.8% in the third 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 in the last quarter. Norges Bank acquired a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $95,937,000. Primecap Management Co. CA increased its holdings in shares of Mobileye Global by 2.3% in the fourth quarter. Primecap Management Co. CA now owns 1,804,400 shares of the company’s stock valued at $35,944,000 after purchasing an additional 40,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company’s stock valued at $34,181,000 after purchasing an additional 45,756 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased 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 purchasing an additional 768,169 shares in the last quarter. 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.