Mobileye Global (NASDAQ:MBLY) Stock Gets Price Target Cut from Canaccord Genuity Group

Mobileye Global (NASDAQ:MBLY) had its price objective cut by Canaccord Genuity Group from $12.00 to $11.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Tigress Financial reduced their price objective 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. The Goldman Sachs Group decreased their price target on Mobileye Global from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday. Needham & Company LLC decreased their price objective on Mobileye Global from $13.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank Of Canada lowered shares of Mobileye Global from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $7.00 to $5.00 in a research note on Wednesday, October 21st. Finally, JPMorgan Chase & Co. lowered their target price on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Mobileye Global has an average rating of “Hold” and an average price target of $10.71.

Mobileye Global Price Performance

MBLY stock opened at $5.96 on Friday. The company has a market capitalization of $5.01 billion, a P/E ratio of -1.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. Mobileye Global has a 12 month low of $5.76 and a 12 month high of $14.33. The firm’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $8.55.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $492.00 million during the quarter, compared to the consensus estimate of $476.78 million. Mobileye Global had a positive return on equity of 0.66% and a negative net margin of 201.25%. Mobileye Global’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts forecast that Mobileye Global will post 0.12 earnings per share for the current year.

Insider Activity at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of Mobileye Global stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares in the company, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors have recently made changes to their positions in MBLY. Mirae Asset Global Investments Co. Ltd. bought a new position in Mobileye Global during the 3rd quarter valued at $396,000. State of Wyoming boosted its holdings in shares of Mobileye Global by 1,318.9% during the third quarter. State of Wyoming now owns 33,316 shares of the company’s stock valued at $246,000 after acquiring an additional 30,968 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Mobileye Global by 586.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 73,500 shares of the company’s stock valued at $543,000 after buying an additional 62,800 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Mobileye Global in the third quarter worth $137,000. Finally, Financial Management Professionals Inc. raised its position in shares of Mobileye Global by 176.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after buying an additional 2,700 shares in the last quarter. 13.25% of the stock is owned by institutional investors and hedge funds.

About Mobileye Global

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.