Mobileye Global (NASDAQ:MBLY) Price Target Cut to $19.00

Mobileye Global (NASDAQ:MBLY) had its target price cut by Barclays from $27.00 to $19.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 56.64% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. BNP Paribas cut shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Wednesday, October 2nd. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Daiwa Capital Markets cut shares of Mobileye Global from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 target price (down previously from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.55.

Mobileye Global Price Performance

MBLY stock opened at $12.13 on Tuesday. The company has a 50 day moving average price of $13.18 and a 200 day moving average price of $22.31. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $44.48. The stock has a market capitalization of $9.82 billion, a PE ratio of -57.76 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last posted 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. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. During the same quarter in the previous year, the company posted $0.11 EPS. Mobileye Global’s revenue was down 3.3% on a year-over-year basis. As a group, equities analysts expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick P. Gelsinger bought 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the purchase, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mobileye Global news, CEO Amnon Shashua purchased 631,963 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the transaction, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the transaction, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBLY. Register Financial Advisors LLC bought a new stake in Mobileye Global during the 1st quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new stake in Mobileye Global during the 4th quarter worth about $77,000. Cranbrook Wealth Management LLC bought a new stake in Mobileye Global during the 2nd quarter worth about $84,000. Natixis Investment Managers International bought a new stake in Mobileye Global during the 1st quarter worth about $99,000. Finally, EverSource Wealth Advisors LLC lifted its position in Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after buying an additional 3,478 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

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.