The Goldman Sachs Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $18.00

Mobileye Global (NASDAQ:MBLY) had its target price trimmed by The Goldman Sachs Group from $20.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Evercore ISI reduced their target price on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Robert W. Baird raised their price objective on Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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 research note on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Mobileye Global in a research report on Friday. Finally, Oppenheimer initiated coverage on shares of Mobileye Global in a research report on Wednesday, January 15th. They set an “outperform” rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and an average target price of $23.05.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $16.52 on Friday. Mobileye Global has a one year low of $10.48 and a one year high of $34.00. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of -4.53, a PEG ratio of 10.97 and a beta of 0.30. The firm’s fifty day moving average is $17.77 and its two-hundred day moving average is $15.87.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative net margin of 164.13% and a positive return on equity of 0.63%. As a group, equities research analysts predict that Mobileye Global will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MBLY. The Manufacturers Life Insurance Company lifted its stake in Mobileye Global by 49.8% in the third quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock valued at $186,194,000 after buying an additional 4,517,217 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Mobileye Global by 85.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after acquiring an additional 768,169 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after buying an additional 957,565 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Mobileye Global by 24.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock worth $19,615,000 after acquiring an additional 279,082 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Mobileye Global in the fourth quarter valued at $12,202,000. Hedge funds and other 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.