Mobileye (MBLY)

Nov 21, 2022Trade Ideas

Mobileye (MBLY) is on the move.

Here’s what we already know. Mobileye has partnered with Audi, BMW, Volkswagen, GM, and Ford to develop advanced driving and safety features such as driver assist and lane-keeping using the company’s ‘EyeQ’ camera, chips, and software, as noted by CNBC.

Two, according to the company, “We have experienced significant growth since our founding. For 2021, 2020, and 2019, our revenue was $1.4 billion, $967 million, and $879 million, respectively, representing year-over-year growth of 43% in 2021. For the six months ended July 2, 2022, and June 26, 2021, our revenue was $854 million and $704 million, respectively, representing period-over-period growth of 21%.”

Three, a good deal of analysts just initiated coverage on the stock. Goldman Sachs, for example, just initiated a buy rating with a $36 price target. Cowen initiated an outperform rating with a $35 price target. Mizuho has a buy rating with a price target of $35, believing the company could capture a potential $480 billion addressable market. Needhman just initiated a buy with a $40 price target. And Raymond James has a Strong Buy rating with a price target of $50 a share.

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