Market News

MBLY Surges after Better-than-Expected Q4 Results

Shares of Mobileye (NASDAQ: MBLY) gained by more than 7% in pre-market trading on Thursday after the company reported Q4 adjusted earnings of $0.27 per share, which beat handily analysts’ consensus estimate of $0.17.

The autonomous driving and driver-assistance technologies (ADAS) company saw its revenues surge 59% year over year to $565 million surpassing consensus estimates by $29.7 million.

The rise in revenues was driven by advanced ADAS products that resulted in MBLY’s Average System Price (ASP) increasing to $56.2 in Q4 versus $48.3 in the same period a year back.

More importantly, the company stated that its business backlog continues to be on an uptick with 2022 ADAS (including SuperVision) design wins “projected to generate future revenue of $6.7 billion across 64 million units by 2030.”

Looking forward, in FY23 management now expects revenue to be in the range of $2.19 billion to $2.3 billion while adjusted operating income is projected to be between $577 million and $627 million.

Overall, Wall Street analysts are bullish about MBLY stock with a Strong Buy consensus rating based on 15 Buys and three Holds.

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More