The Goldman Sachs Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $8.00

Mobileye Global (NASDAQ:MBLY) had its price objective trimmed by The Goldman Sachs Group from $9.00 to $8.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on the company. Zacks Research raised Mobileye Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Tigress Financial cut their price target on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Barclays restated an “equal weight” rating and set a $9.00 price objective (down from $14.00) on shares of Mobileye Global in a report on Wednesday, September 30th. Finally, Canaccord Genuity Group dropped their target price on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.41.

Mobileye Global Stock Down 1.3%

Mobileye Global stock opened at $7.06 on Tuesday. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $15.81. The company’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.60. The stock has a market cap of $5.93 billion, a P/E ratio of -1.41, a P/E/G ratio of 2.35 and a beta of 1.25.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $508.00 million during the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, equities analysts anticipate that Mobileye Global will post 0.11 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank Yeary bought 12,360 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the acquisition, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the purchase, the director directly owned 84,336 shares in the company, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in MBLY. Farther Finance Advisors LLC boosted its stake in Mobileye Global by 665.2% during the third quarter. Farther Finance Advisors LLC now owns 11,386 shares of the company’s stock valued at $84,000 after buying an additional 9,898 shares during the period. Tidal Investments LLC increased its stake in Mobileye Global by 17.8% in the 2nd quarter. Tidal Investments LLC now owns 159,149 shares of the company’s stock worth $1,541,000 after acquiring an additional 24,088 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of Mobileye Global by 185.7% in the 2nd quarter. WINTON GROUP Ltd now owns 147,700 shares of the company’s stock valued at $1,430,000 after acquiring an additional 96,000 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Mobileye Global by 11.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock valued at $169,000 after acquiring an additional 1,732 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Mobileye Global by 63.6% during the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock valued at $38,000 after acquiring an additional 1,535 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.