Mobileye Global (NASDAQ:MBLY) Stock Price Target Cut by Canaccord Genuity Group

Mobileye Global (NASDAQ:MBLY) had its price target dropped by stock analysts at Canaccord Genuity Group from $12.00 to $11.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 84.56% from the company’s current price.

Other research analysts also recently issued reports about the stock. Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $12.00 in a research note on Monday, July 27th. JPMorgan Chase & Co. dropped their price target on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Tigress Financial cut their price target on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Monday, August 17th. Finally, Citigroup assumed coverage on shares of Mobileye Global in a research report on Friday, October 16th. They issued a “buy” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.71.

Mobileye Global Price Performance

Shares of MBLY stock opened at $5.96 on Friday. The stock has a market capitalization of $5.01 billion, a PE ratio of -1.20, a P/E/G ratio of 1.82 and a beta of 1.30. Mobileye Global has a 1-year low of $5.76 and a 1-year high of $14.33. The business has a 50-day moving average of $7.68 and a 200 day moving average of $8.55.

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

Insider Buying and Selling at Mobileye Global

In related news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of Mobileye Global stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. lifted its holdings in Mobileye Global by 176.4% in the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after buying an additional 2,700 shares during the period. Bogart Wealth LLC grew its holdings in shares of Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after acquiring an additional 5,000 shares during the period. Allworth Financial LP grew its holdings in shares of Mobileye Global by 63.6% during the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after acquiring an additional 1,535 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Mobileye Global by 204.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock worth $60,000 after acquiring an additional 5,837 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Mobileye Global in the 2nd quarter worth approximately $77,000. 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.