Mobileye Global (NASDAQ:MBLY) Earns Equal Weight Rating from Barclays

Mobileye Global (NASDAQ:MBLY)‘s stock had its “equal weight” rating reiterated by analysts at Barclays in a note issued to investors on Wednesday, Benzinga reports. They presently have a $9.00 price target on the stock, down from their previous price target of $14.00. Barclays‘s target price suggests a potential upside of 18.89% from the company’s current price.

MBLY has been the topic of a number of other reports. Canaccord Genuity Group reduced their price objective 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. Weiss Ratings upgraded shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Mobileye Global in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and an average target price of $11.91.

Mobileye Global Price Performance

Shares of MBLY opened at $7.57 on Wednesday. The company has a market capitalization of $6.36 billion, a P/E ratio of -1.52, a PEG ratio of 2.56 and a beta of 1.22. Mobileye Global has a one year low of $6.47 and a one year high of $15.81. The business’s 50 day simple moving average is $8.35 and its 200-day simple moving average is $8.62.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $480.51 million. During the same period last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Mobileye Global will post 0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the transaction, 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. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank D. Yeary acquired 12,360 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the purchase, the director directly owned 12,360 shares in the company, valued at $98,632.80. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently modified their holdings of the business. Bogart Wealth LLC raised its position in shares of Mobileye Global by 5,000.0% during the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after purchasing an additional 5,000 shares during the period. Allworth Financial LP lifted its holdings 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 purchasing an additional 1,535 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Mobileye Global by 204.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock valued at $60,000 after purchasing an additional 5,837 shares during the period. Nykredit A S acquired a new position in shares of Mobileye Global in the 2nd quarter valued at approximately $77,000. Finally, Impact Partnership Wealth LLC bought a new stake in Mobileye Global during the 1st quarter worth approximately $81,000. 13.25% of the stock is currently owned by institutional investors.

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.