Mobileye Global (NASDAQ:MBLY) Rating Lowered to Underperform at BNP Paribas

Mobileye Global (NASDAQ:MBLY) was downgraded by BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They presently have a $12.00 target price on the stock. BNP Paribas’ price target points to a potential downside of 10.71% from the company’s current price.

MBLY has been the topic of a number of other reports. Robert W. Baird reduced their price objective on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on Mobileye Global from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Barclays cut their target price on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Daiwa Capital Markets lowered Mobileye Global from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.10.

Mobileye Global Stock Down 1.9 %

MBLY stock opened at $13.44 on Wednesday. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $44.48. The company has a market cap of $10.88 billion, a P/E ratio of -64.00 and a beta of 0.08. The business has a fifty day moving average of $14.51 and a 200-day moving average of $23.68.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, equities research analysts anticipate that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Patrick P. Gelsinger bought 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the purchase, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Mobileye Global news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amnon Shashua acquired 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mobileye Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc lifted its stake in Mobileye Global by 59.2% in the 4th quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock valued at $6,068,000 after purchasing an additional 52,088 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Mobileye Global in the first quarter valued at approximately $1,294,000. Pinebridge Investments L.P. boosted its stake in shares of Mobileye Global by 70.4% during the 4th quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after acquiring an additional 100,494 shares during the period. Raymond James & Associates increased its holdings in shares of Mobileye Global by 258.7% during the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock worth $9,448,000 after acquiring an additional 242,640 shares during the last quarter. Finally, AXA S.A. raised its stake in Mobileye Global by 35.6% in the 2nd quarter. AXA S.A. now owns 518,076 shares of the company’s stock valued at $14,550,000 after acquiring an additional 135,967 shares during the period. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.