Mobileye's OEM Engagements Increase and Supervision Shipments are Key Factors for Growth, Analysts Say
Portfolio Pulse from Anusuya Lahiri
Mobileye Global Inc (MBLY) reported a 1% YoY decline in Q2 FY23 revenue to $454 million, beating the consensus of $451.7 million. Non-GAAP EPS of $0.17 also beat the consensus of $0.12. Analysts from Raymond James, TD Cowen, and Canaccord Genuity reiterated their positive ratings on the company, with price targets ranging from $45 to $55. The company's growth is expected to be driven by increased OEM engagements and Supervision shipments.
July 28, 2023 | 7:03 pm
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POSITIVE IMPACT
Mobileye's Q2 FY23 results beat estimates, and analysts maintain positive ratings. The company's growth is expected to be driven by increased OEM engagements and Supervision shipments.
Mobileye's better-than-expected Q2 FY23 results and positive analyst ratings indicate a positive short-term impact on the company's stock. The company's growth drivers, including increased OEM engagements and Supervision shipments, are also likely to positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Volkswagen AG is one of Mobileye's largest OEM customers.
Volkswagen AG is mentioned as one of Mobileye's largest OEM customers. However, the news does not provide any specific information that could impact Volkswagen's stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50