Citigroup Lowers Mobileye Global (NASDAQ:MBLY) Price Target to $53.00

Mobileye Global (NASDAQ:MBLY) had its price objective lowered by stock analysts at Citigroup from $58.00 to $53.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 91.20% from the stock’s previous close.

Several other research firms also recently commented on MBLY. Mizuho reduced their price objective on Mobileye Global from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Piper Sandler upped their target price on Mobileye Global from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley cut Mobileye Global from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $26.00 to $25.00 in a report on Friday. Robert W. Baird dropped their target price on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. upped their target price on Mobileye Global from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Moderate Buy” and an average price target of $40.58.

Mobileye Global Price Performance

NASDAQ MBLY traded down $1.48 during mid-day trading on Monday, hitting $27.72. The stock had a trading volume of 3,317,640 shares, compared to its average volume of 4,594,484. The firm’s 50 day moving average is $29.23 and its 200 day moving average is $33.33. Mobileye Global has a twelve month low of $23.49 and a twelve month high of $47.41. The stock has a market capitalization of $22.35 billion, a price-to-earnings ratio of -131.85, a PEG ratio of 13.57 and a beta of -0.22.

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

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Mobileye Global during the 4th quarter worth $437,842,000. Kodai Capital Management LP purchased a new position in Mobileye Global during the 4th quarter valued at about $148,924,000. Wellington Management Group LLP boosted its holdings in Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after acquiring an additional 2,266,438 shares during the period. Franklin Resources Inc. boosted its holdings in Mobileye Global by 25.8% during the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock valued at $113,616,000 after acquiring an additional 538,371 shares during the period. Finally, DAVENPORT & Co LLC boosted its holdings in Mobileye Global by 2.0% during the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company’s stock valued at $85,109,000 after acquiring an additional 38,667 shares during the period. 13.25% of the stock is currently owned by hedge funds and other 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.