UBS Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $7.50

Mobileye Global (NASDAQ:MBLY) had its price objective dropped by UBS Group from $9.00 to $7.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 4.90% from the company’s previous close.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group reduced their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Mobileye Global in a research report on Friday, July 24th. Piper Sandler upgraded shares of Mobileye Global from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.00 to $12.00 in a research note on Monday, July 27th. The Goldman Sachs Group reduced their target price on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Mizuho dropped their price target on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.41.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY traded down $0.32 during midday trading on Wednesday, hitting $7.15. 4,250,290 shares of the company traded hands, compared to its average volume of 6,944,617. The stock has a 50-day moving average price of $8.28 and a 200 day moving average price of $8.61. The firm has a market cap of $6.01 billion, a P/E ratio of -1.43, a P/E/G ratio of 2.49 and a beta of 1.25. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating 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 firm had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. During the same period in the prior year, the firm earned ($0.08) EPS. The company’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that Mobileye Global will post 0.11 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of Mobileye Global by 63.6% in the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock valued at $38,000 after acquiring an additional 1,535 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Mobileye Global by 11.0% during the second quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock worth $169,000 after buying an additional 1,732 shares during the last quarter. Triumph Capital Management boosted its position in shares of Mobileye Global by 7.1% during the second quarter. Triumph Capital Management now owns 30,988 shares of the company’s stock valued at $300,000 after buying an additional 2,062 shares during the last quarter. Cetera Investment Advisers increased its stake in Mobileye Global by 15.3% in the 1st quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock valued at $119,000 after buying an additional 2,286 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Mobileye Global by 16.0% during the 4th quarter. State of Wyoming now owns 27,612 shares of the company’s stock worth $288,000 after purchasing an additional 3,811 shares during the period. Institutional investors own 13.25% of the company’s stock.

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.