Mobileye Global (NASDAQ:MBLY) Stock Gets Price Target Reduction from UBS Group

Mobileye Global (NASDAQ:MBLY) had its price target cut by UBS Group from $7.50 to $7.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also commented on MBLY. Morgan Stanley decreased their price objective on shares of Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Zacks Research cut Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 20th. Tigress Financial dropped their price objective on Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. TD Cowen lowered Mobileye Global from a “buy” rating to a “hold” rating and cut their target price for the company from $8.00 to $7.00 in a research report on Friday. Finally, Mizuho reduced their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.71.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $5.96 on Friday. The company’s 50 day moving average price is $7.68 and its 200-day moving average price is $8.55. Mobileye Global has a 52 week low of $5.76 and a 52 week high of $14.33. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -1.20, a PEG ratio of 1.82 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. The company had revenue of $492.00 million for the quarter, compared to analyst estimates of $476.78 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Mobileye Global’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mobileye Global will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of Mobileye Global stock in a transaction that occurred on 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 purchase, the director directly owned 84,336 shares of the company’s stock, valued at $713,482.56. This represents a 16.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MBLY. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mobileye Global by 24.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after purchasing an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Mobileye Global by 6.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company’s stock valued at $19,112,000 after buying an additional 166,392 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Mobileye Global by 5.8% in the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock valued at $13,991,000 after buying an additional 111,215 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Mobileye Global in the 3rd quarter worth approximately $9,074,000. Finally, First Trust Advisors LP grew its position in shares of Mobileye Global by 27.7% in the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after buying an additional 249,921 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.