Mobileye Global (NASDAQ:MBLY) Price Target Cut to $11.00 by Analysts at Canaccord Genuity Group

Mobileye Global (NASDAQ:MBLY) had its price objective decreased by Canaccord Genuity Group from $12.00 to $11.00 in a research report report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen cut Mobileye Global from a “buy” rating to a “hold” rating and dropped their target price for the company from $8.00 to $7.00 in a report on Friday. Berenberg Bank upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Monday, August 17th. UBS Group lowered their price target on shares of Mobileye Global from $7.50 to $7.00 and set a “neutral” rating for the company in a report on Friday. Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.71.

Mobileye Global Stock Performance

Shares of Mobileye Global stock opened at $5.96 on Friday. The business’s 50-day moving average price is $7.68 and its 200-day moving average price is $8.55. The firm has a market capitalization of $5.01 billion, a PE ratio of -1.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. Mobileye Global has a 12 month low of $5.76 and a 12 month high of $14.33.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Mobileye Global had a negative net margin of 201.25% and a positive return on equity of 0.66%. The business had revenue of $492.00 million for the quarter, compared to analysts’ expectations of $476.78 million. During the same period last year, the business earned $0.09 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts predict that Mobileye Global will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, the director directly owned 84,336 shares in the company, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Mobileye Global by 63.6% during the second 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 during the period. Integrated Wealth Concepts LLC grew its stake in Mobileye Global by 11.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company’s stock valued at $169,000 after purchasing an additional 1,732 shares during the last quarter. Triumph Capital Management boosted its position in Mobileye Global by 7.1% in 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 raised its holdings in shares of Mobileye Global by 15.3% during the first quarter. Cetera Investment Advisers now owns 17,267 shares of the company’s stock worth $119,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in shares of Mobileye Global by 176.4% in the third quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after buying an additional 2,700 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

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.