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

Mobileye Global (NASDAQ:MBLY) had its price objective dropped by research analysts at UBS Group from $7.50 to $7.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group‘s price objective would suggest a potential upside of 17.45% from the company’s previous close.

Several other research analysts also recently commented on the company. 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. Royal Bank Of Canada cut Mobileye Global from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $7.00 to $5.00 in a research note on Wednesday, October 21st. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Monday, August 17th. The Goldman Sachs Group decreased their price objective on shares of Mobileye Global from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday. Finally, TD Cowen lowered shares of Mobileye Global from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.00 to $7.00 in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.71.

Mobileye Global Stock Performance

Shares of MBLY opened at $5.96 on Friday. The stock has a market capitalization 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 has a 12 month low of $5.76 and a 12 month high of $14.33. The firm has a fifty day simple moving average of $7.68 and a 200 day simple moving average of $8.55.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results 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. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. The firm had revenue of $492.00 million during the quarter, compared to the consensus estimate of $476.78 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that Mobileye Global will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MBLY. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Mobileye Global by 24.5% during 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 period. Assenagon Asset Management S.A. acquired a new stake in shares of Mobileye Global in the second quarter valued at approximately $23,423,000. Bank of America Corp DE boosted its stake 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 buying an additional 111,215 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Mobileye Global in the third quarter valued at approximately $9,074,000. Finally, First Trust Advisors LP boosted its stake in shares of Mobileye Global by 27.7% in the first quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock valued at $7,918,000 after buying an additional 249,921 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.