Mobileye Global (NASDAQ:MBLY) Given New $16.00 Price Target at Barclays

Mobileye Global (NASDAQ:MBLY) had its price objective raised by Barclays from $14.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 0.69% from the company’s previous close.

MBLY has been the topic of a number of other research reports. The Goldman Sachs Group cut shares of Mobileye Global from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Monday, June 9th. Needham & Company LLC reduced their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird boosted their price target on shares of Mobileye Global from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. TD Cowen lifted their price objective on shares of Mobileye Global from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of Mobileye Global to a “sell” rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.21.

Mobileye Global Price Performance

Shares of MBLY traded down $0.16 on Wednesday, reaching $16.11. The company’s stock had a trading volume of 438,618 shares, compared to its average volume of 5,810,177. The stock has a market capitalization of $13.08 billion, a P/E ratio of -4.39, a PEG ratio of 26.01 and a beta of 0.54. The stock’s 50 day simple moving average is $16.63 and its two-hundred day simple moving average is $15.98. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $27.25.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, April 24th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. The company had revenue of $438.00 million for the quarter, compared to analysts’ expectations of $434.87 million. During the same quarter last year, the business earned ($0.07) EPS. The firm’s revenue was up 83.3% compared to the same quarter last year. Analysts expect that Mobileye Global will post 0.01 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, major shareholder Corp Intel sold 63,731,985 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the transaction, the insider owned 50,000,000 shares in the company, valued at approximately $802,500,000. This represents a 56.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the completion of the transaction, the executive vice president owned 107,853 shares in the company, valued at approximately $1,735,354.77. This trade represents a 38.49% decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds have recently bought and sold shares of the stock. Triumph Capital Management boosted its position in Mobileye Global by 6.7% in the 2nd quarter. Triumph Capital Management now owns 75,840 shares of the company’s stock worth $1,364,000 after purchasing an additional 4,795 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Mobileye Global during the 1st quarter valued at approximately $27,000. Woodline Partners LP purchased a new position in shares of Mobileye Global during the 1st quarter valued at approximately $4,711,000. Caxton Associates LLP purchased a new position in shares of Mobileye Global during the 1st quarter valued at approximately $422,000. Finally, Sender Co & Partners Inc. purchased a new position in shares of Mobileye Global during the 1st quarter valued at approximately $188,000. 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.