Mobileye Global (NASDAQ:MBLY) Downgraded by Morgan Stanley to “Underweight”

Morgan Stanley downgraded shares of Mobileye Global (NASDAQ:MBLY) from an equal weight rating to an underweight rating in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has $25.00 price objective on the stock, down from their previous price objective of $26.00.

A number of other research firms have also recently commented on MBLY. Robert W. Baird cut their price target on shares of Mobileye Global from $43.00 to $42.00 and set an outperform rating on the stock in a report on Friday, January 26th. Wolfe Research raised shares of Mobileye Global from a peer perform rating to an outperform rating and set a $41.00 price target for the company in a research report on Friday, April 12th. TD Cowen reduced their price target on shares of Mobileye Global from $38.00 to $35.00 and set an outperform rating for the company in a research report on Friday, January 26th. Mizuho reduced their price target on shares of Mobileye Global from $42.00 to $38.00 and set a buy rating for the company in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Mobileye Global from $34.00 to $38.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $41.70.

Mobileye Global Stock Performance

Shares of MBLY opened at $29.20 on Friday. The stock has a market cap of $23.54 billion, a PE ratio of -139.04, a price-to-earnings-growth ratio of 14.36 and a beta of -0.21. Mobileye Global has a fifty-two week low of $23.49 and a fifty-two week high of $47.41. The firm’s 50-day simple moving average is $29.23 and its two-hundred day simple moving average is $33.40.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $637.53 million. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities research analysts predict that Mobileye Global will post 0.14 EPS for the current year.

Insider Activity at Mobileye Global

In other news, Director Patrick P. Gelsinger bought 3,600 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $27.75 per share, for a total transaction of $99,900.00. Following the purchase, the director now owns 129,095 shares in the company, valued at $3,582,386.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC bought a new stake in Mobileye Global in the 3rd quarter valued at $25,000. Principal Securities Inc. bought a new stake in Mobileye Global in the 4th quarter valued at $28,000. Register Financial Advisors LLC bought a new stake in Mobileye Global in the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in Mobileye Global in the 3rd quarter valued at $35,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Mobileye Global by 33.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock worth $50,000 after buying an additional 300 shares during the last quarter. 13.25% of the stock is currently 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.