Barclays Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $14.00

Mobileye Global (NASDAQ:MBLY) had its target price reduced by analysts at Barclays from $16.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 112.99% from the stock’s current price.

MBLY has been the topic of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mobileye Global in a report on Wednesday, January 28th. Zacks Research lowered Mobileye Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Needham & Company LLC cut their target price on Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Wall Street Zen lowered shares of Mobileye Global from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Canaccord Genuity Group reduced their price objective on Mobileye Global from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.79.

Mobileye Global Stock Down 2.3%

Shares of MBLY traded down $0.16 during trading hours on Monday, reaching $6.57. 899,333 shares of the company traded hands, compared to its average volume of 8,428,852. Mobileye Global has a fifty-two week low of $6.53 and a fifty-two week high of $20.18. The stock has a market capitalization of $5.53 billion, a PE ratio of -13.41 and a beta of 0.59. The stock has a fifty day simple moving average of $8.68 and a 200 day simple moving average of $11.18.

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

Hedge Funds Weigh In On Mobileye Global

Large investors have recently added to or reduced their stakes in the company. MAI Capital Management raised its stake in Mobileye Global by 22.2% during the 3rd quarter. MAI Capital Management now owns 4,400 shares of the company’s stock valued at $62,000 after acquiring an additional 800 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Mobileye Global by 6.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 16,068 shares of the company’s stock valued at $168,000 after purchasing an additional 957 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Mobileye Global by 2.5% in the second quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after buying an additional 1,090 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Mobileye Global by 6.3% during the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Country Club Bank lifted its holdings in shares of Mobileye Global by 0.8% during the third quarter. Country Club Bank now owns 144,803 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,188 shares during the last quarter. 13.25% of the stock is currently owned by 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.