Mobileye Global (NASDAQ:MBLY) Stock Price Target Lowered at The Goldman Sachs Group

Mobileye Global (NASDAQ:MBLY) had its target price trimmed by The Goldman Sachs Group from $9.00 to $8.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on MBLY. Canaccord Genuity Group cut their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Mobileye Global in a research report on Friday, July 24th. Royal Bank Of Canada dropped their price objective on Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Mizuho cut their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.48.

Mobileye Global Price Performance

MBLY stock opened at $7.47 on Tuesday. The company’s 50-day moving average is $8.28 and its 200-day moving average is $8.61. The stock has a market capitalization of $6.27 billion, a PE ratio of -1.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.25. Mobileye Global has a 1 year low of $6.47 and a 1 year high of $15.81.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. On average, analysts anticipate that Mobileye Global will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mobileye Global news, Director Frank D. Yeary acquired 12,360 shares of Mobileye Global stock in a transaction on Thursday, July 30th. The stock was purchased at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the purchase, the director directly owned 12,360 shares of the company’s stock, valued at $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares in the company, valued at approximately $713,482.56. The trade was a 16.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors have recently added to or reduced their stakes in MBLY. Allworth Financial LP lifted its position in Mobileye Global by 63.6% during the second quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock valued at $38,000 after purchasing an additional 1,535 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Mobileye Global by 11.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock worth $169,000 after buying an additional 1,732 shares during the last quarter. Triumph Capital Management raised its position in shares of Mobileye Global by 7.1% during the 2nd quarter. Triumph Capital Management now owns 30,988 shares of the company’s stock valued at $300,000 after buying an additional 2,062 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Mobileye Global by 15.3% during the 1st quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock worth $119,000 after acquiring an additional 2,286 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Mobileye Global by 16.0% during the 4th quarter. State of Wyoming now owns 27,612 shares of the company’s stock worth $288,000 after acquiring an additional 3,811 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.