UBS Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $9.00

Mobileye Global (NASDAQ:MBLY) had its target price cut by UBS Group from $12.00 to $9.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on MBLY. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a research report on Wednesday, January 28th. Needham & Company LLC cut their price target on Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Morgan Stanley cut their price target on Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Barclays cut their price target on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. Finally, Berenberg Bank began coverage on Mobileye Global in a research report on Wednesday, April 1st. They set a “buy” rating and a $9.30 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.90.

Mobileye Global Price Performance

Shares of MBLY opened at $7.82 on Tuesday. The firm has a market capitalization of $6.58 billion, a PE ratio of -15.96 and a beta of 0.75. Mobileye Global has a 1-year low of $6.47 and a 1-year high of $20.18. The company’s fifty day moving average price is $8.03 and its 200-day moving average price is $10.56.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $446.00 million for the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, research analysts anticipate that Mobileye Global will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Mobileye Global

Hedge funds have recently modified their holdings of the company. Intel Corp purchased a new stake in shares of Mobileye Global during the 3rd quarter worth about $706,000,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mobileye Global during the 3rd quarter worth about $40,670,000. Ion Asset Management Ltd. acquired a new position in shares of Mobileye Global during the 3rd quarter worth about $3,389,000. JPMorgan Chase & Co. raised its position in shares of Mobileye Global by 57.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 686,976 shares of the company’s stock worth $9,700,000 after purchasing an additional 251,072 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Mobileye Global during the 3rd quarter worth about $2,470,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.