Mobileye Global (NASDAQ:MBLY) Given New $7.50 Price Target at JPMorgan Chase & Co.

Mobileye Global (NASDAQ:MBLY) had its price objective cut by analysts at JPMorgan Chase & Co. from $9.00 to $7.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 28.98% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Piper Sandler upgraded shares of Mobileye Global from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.00 to $12.00 in a research report on Monday, July 27th. Zacks Research lowered Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 20th. Morgan Stanley dropped their target price on Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, October 15th. Royal Bank Of Canada downgraded Mobileye Global from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $7.00 to $5.00 in a research report on Wednesday, October 21st. Finally, Needham & Company LLC lowered their price target on Mobileye Global from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.63.

Mobileye Global Trading Down 2.4%

Mobileye Global stock traded down $0.14 during mid-day trading on Monday, hitting $5.82. The stock had a trading volume of 1,542,349 shares, compared to its average volume of 6,929,543. Mobileye Global has a one year low of $5.76 and a one year high of $14.33. The firm has a market capitalization of $4.88 billion, a P/E ratio of -1.18, a P/E/G ratio of 1.82 and a beta of 1.30. The firm’s 50 day moving average is $7.68 and its 200 day moving average is $8.55.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $492.00 million for the quarter, compared to analysts’ expectations of $476.78 million. During the same period last year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Mobileye Global will post 0.12 earnings per share for the current year.

Insider Transactions at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the purchase, the director owned 84,336 shares in the company, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is owned by company insiders.

Institutional Trading of Mobileye Global

Hedge funds have recently modified their holdings of the stock. BCGM Wealth Management LLC raised its holdings in shares of Mobileye Global by 56.7% during the 1st quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company’s stock worth $2,533,000 after acquiring an additional 133,471 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Mobileye Global by 24.5% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after buying an additional 705,400 shares during the period. Bank of America Corp DE grew its holdings in shares of Mobileye Global by 5.8% in the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock valued at $13,991,000 after purchasing an additional 111,215 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Mobileye Global by 129.6% in the first quarter. Royal Bank of Canada now owns 224,315 shares of the company’s stock valued at $1,541,000 after acquiring an additional 126,634 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Mobileye Global in the 3rd quarter valued at approximately $9,074,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.