Mobileye Shares Hold Steady with $27 Target from Canaccord

Canaccord Genuity

Canaccord Genuity, a global investment banking and financial services firm, has set a target price of $27 for Mobileye shares. This target price suggests that Canaccord believes Mobileye shares are currently undervalued and have the potential to increase in value. The target price is based on Canaccord's analysis of Mobileye's financial performance, market position, and growth prospects.

Mobileye's Financial Performance

Mobileye has been consistently profitable in recent years, with revenue growing at a strong pace. In 2021, Mobileye reported revenue of $1.39 billion, up 25% from the previous year. Net income also grew by 25% to $341 million. Mobileye's financial performance is expected to continue to be strong in the coming years, as the company benefits from the growing demand for self-driving cars and other advanced driver assistance systems.

Mobileye's Market Position

Mobileye is a leading provider of self-driving car technology. The company's technology is used by automakers such as BMW, Ford, and Volkswagen. Mobileye also has a number of partnerships with technology companies, such as Intel and NVIDIA. These partnerships give Mobileye access to a wide range of resources and expertise, which helps the company to develop and market its products.

Mobileye's Growth Prospects

The market for self-driving cars and other advanced driver assistance systems is growing rapidly. This growth is being driven by a number of factors, including the increasing demand for safety features, the growing popularity of ride-sharing services, and the development of new technologies. Mobileye is well-positioned to benefit from this growth, as the company has a strong market position and a track record of innovation.

Conclusion

Mobileye shares are currently trading at $26.50, below the target price of $27 set by Canaccord Genuity. This suggests that Mobileye shares may be undervalued and have the potential to increase in value. Investors should consider adding Mobileye to their portfolios, as the company is well-positioned to benefit from the growing demand for self-driving cars and other advanced driver assistance systems.