Mobileye Global (NASDAQ:MBLY) Price Target Lowered to $9.00 at UBS Group

Mobileye Global (NASDAQ:MBLY) had its target price decreased by UBS Group from $10.00 to $9.00 in a research report released on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Mobileye Global in a research report on Monday, May 18th. They set an “underperform” rating and a $8.00 price objective for the company. Zacks Research upgraded shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. The Goldman Sachs Group upped their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Mobileye Global in a research report on Friday. Finally, Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Mobileye Global has an average rating of “Hold” and an average target price of $12.95.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $8.05 on Friday. The stock has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.99. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -1.61 and a beta of 1.16. Mobileye Global has a fifty-two week low of $6.47 and a fifty-two week high of $15.81.

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, topping the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The company had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same period in the prior year, the firm posted ($0.08) EPS. Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. Research analysts predict that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global declared that its board has initiated a share buyback plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its stake in shares of Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers acquired a new position in Mobileye Global during the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Mobileye Global during the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. bought a new position in Mobileye Global in the 4th quarter valued at approximately $32,000. Finally, Leonteq Securities AG bought a new position in Mobileye Global in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.