10 Best Stocks to Buy Under $10

8. Mobileye Global Inc. (NASDAQ:MBLY)

Share Price: $9.53

Number of Hedge Fund Holders: 37

Mobileye Global Inc. (NASDAQ:MBLY) is one of the best stocks to buy under $10. On May 21, Berenberg downgraded its rating on Mobileye Global Inc. (NASDAQ:MBLY) from Buy to Hold.

The research firm pointed to the stock’s rally since March and said that it has made the near-term risk-reward profile more balanced. Berenberg continues to have confidence in the company’s long-term autonomous driving opportunity.

However, since the stock surged more than 40% following a strong Q1 earnings beat, a newly announced $250 million share buyback, and an improved full-year outlook, Berenberg lifted its price target to $10.80 from $9.30 for Mobileye Global Inc. (NASDAQ:MBLY).

The firm pointed out that the company’s Q1 results highlighted the resilience of its advanced driver-assistance systems (ADAS) business.

Despite the downgrade, Berenberg remains confident in the company’s long-term position in the global ADAS and autonomous driving market. The firm pointed to Mobileye Global Inc.’s (NASDAQ:MBLY) solid EyeQ platform, cash-generative core business, and potential upside from advanced products and robotaxi developments as reasons for its continued confidence.

Mobileye Global Inc. (NASDAQ:MBLY) is an autonomous driving company that develops advanced driver-assistance systems (ADAS) and autonomous driving technologies.

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