Mobileye Global (NASDAQ:MBLY) Price Target Cut to $8.00 by Analysts at TD Cowen

Mobileye Global (NASDAQ:MBLY) had its price objective cut by TD Cowen from $9.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the stock. Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $12.00 in a report on Monday, July 27th. JPMorgan Chase & Co. dropped their target price on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Canaccord Genuity Group cut their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mobileye Global in a report on Friday, October 2nd. Finally, Morgan Stanley decreased their price target on Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.18.

Mobileye Global Price Performance

Mobileye Global stock opened at $7.19 on Monday. The business has a 50 day simple moving average of $8.07 and a 200-day simple moving average of $8.61. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $15.19. The stock has a market capitalization of $6.04 billion, a PE ratio of -1.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data 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. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. As a group, equities research analysts anticipate that Mobileye Global will post 0.11 EPS for the current year.

Insider Activity

In other news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank D. Yeary purchased 12,360 shares of the stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the acquisition, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.00% of the company’s stock.

Institutional Trading of Mobileye Global

A number of hedge funds have recently bought and sold shares of MBLY. Bogart Wealth LLC grew its position in shares of Mobileye Global by 5,000.0% in the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock valued at $35,000 after purchasing an additional 5,000 shares during the period. Allworth Financial LP increased its stake in Mobileye Global by 63.6% in the second 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 during the last quarter. PNC Financial Services Group Inc. lifted its position in Mobileye Global by 204.9% during the first quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock worth $60,000 after buying an additional 5,837 shares during the period. Nykredit A S purchased a new position in Mobileye Global during the second quarter worth about $77,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Mobileye Global in the 1st quarter worth about $81,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.