- Mobileye Global's revenue skyrocketed by 83% year-over-year, spurring a 4% increase in share price.
- Despite the impressive figures, J.P. Morgan maintains an Underweight rating, as growth expectations were met.
- Wall Street analysts see significant potential upside with a one-year price target suggesting a 39.07% increase from current levels.
Mobileye Global (MBLY, Financial) experienced a notable 4% uptick in its share price after reporting a remarkable 83% increase in revenue, reaching $438 million for the first quarter. This impressive growth outperformed analyst expectations. However, J.P. Morgan remains cautious, keeping its Underweight rating as the results aligned with anticipated outcomes. Looking forward, Mobileye projects a 7% revenue growth for the second quarter.
Wall Street Analysts Forecast
Delving into Wall Street's sentiment, 26 analysts have set one-year price targets for Mobileye Global Inc (MBLY, Financial), with an average target price of $19.21. This figure ranges from a high estimate of $33.00 to a low of $14.00, offering a potential upside of 39.07% from the current trading price of $13.82. For a more comprehensive view, additional data is available on the Mobileye Global Inc (MBLY) Forecast page.
Furthermore, Mobileye Global Inc's (MBLY, Financial) average brokerage recommendation stands at 2.4 based on feedback from 28 brokerage firms, indicating an "Outperform" status. This rating is part of a scale where 1 signifies Strong Buy and 5 represents Sell, highlighting a generally positive sentiment towards the company's future prospects.
