Mobileye NV (MBLY) Releases Earnings Results, Beats Expectations By $0.02 EPS

Mobileye NV (MBLY) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.17 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.15. The company posted revenue of $83.50 million in the period, compared to analysts expectations of $76.98 million. The company’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Mobileye NV. Mobileye NV was Initiated by JP Morgan to “Neutral” on Jul 19, 2016. Company shares were Reiterated by Piper Jaffray on Jul 18, 2016 to “Overweight”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .Company shares were Reiterated by RBC Capital Mkts on Jul 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 53 from a previous price target of $47 .

Mobileye NV opened for trading at $48.13 and hit $48.68 on the upside on Wednesday, eventually ending the session at $48.21, with a gain of 0.44% or 0.21 points. The heightened volatility saw the trading volume jump to 19,48,075 shares. Company has a market cap of $10,551 M.

Mobileye NV designs and develops software and related technologies for camera-based advanced driver assistance systems (ADAS). The Company’s software algorithms and EyeQ system on a chip (SOC) perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles pedestrians cyclists animals debris and other obstacles. Its products are also able to detect roadway markings such as lanes road boundaries barriers and similar items as well as to identify and read traffic signs and traffic lights. It operates in two segments: the original equipment manufacturer segment and the AM segment. The OEM segment supplies the software algorithms and EyeQ chip that are the core technology of the complete ADAS to the Tier 1 companies that are the system integrators for the automotive industry. In the AM segment it sells a complete system which includes its software algorithms and EyeQ chip as well as the camera and other necessary components.

Mobileye NV

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