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

Mobileye Global (NASDAQ:MBLY) had its price objective cut by UBS Group from $9.00 to $7.50 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on MBLY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mobileye Global in a report on Friday, October 2nd. Royal Bank Of Canada decreased their price objective on Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Tigress Financial dropped their target price on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut their target price on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Finally, Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.41.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $7.10 on Wednesday. The company’s fifty day moving average price is $8.23 and its 200-day moving average price is $8.59. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -1.42, a PEG ratio of 2.32 and a beta of 1.25. Mobileye Global has a one year low of $6.47 and a one year high of $15.65.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts expect that Mobileye Global will post 0.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Yeary bought 12,360 shares of Mobileye Global stock in a transaction on Thursday, July 30th. The shares were purchased at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the acquisition, the director directly owned 12,360 shares in the company, valued at approximately $98,632.80. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in MBLY. Allworth Financial LP increased its position in 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 buying an additional 1,535 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Mobileye Global by 5,000.0% in the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after acquiring an additional 5,000 shares in the last quarter. Nykredit A S bought a new stake in Mobileye Global in the second quarter worth $77,000. PNC Financial Services Group Inc. grew its stake in shares of Mobileye Global by 204.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock worth $60,000 after acquiring an additional 5,837 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Mobileye Global in the second quarter worth $104,000. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.