Mobileye Global (NASDAQ:MBLY) Given New $24.00 Price Target at Royal Bank of Canada

Mobileye Global (NASDAQ:MBLY) had its target price cut by Royal Bank of Canada from $34.00 to $24.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on MBLY. Needham & Company LLC lowered their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating for the company in a report on Friday, August 2nd. Daiwa America lowered shares of Mobileye Global from a strong-buy rating to a hold rating in a report on Monday, August 5th. Robert W. Baird lowered their price target on shares of Mobileye Global from $40.00 to $29.00 and set an outperform rating for the company in a report on Friday, August 2nd. UBS Group lowered their price target on shares of Mobileye Global from $36.00 to $33.00 and set a buy rating for the company in a report on Wednesday, July 10th. Finally, Hsbc Global Res upgraded shares of Mobileye Global to a strong-buy rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $31.42.

Mobileye Global Trading Up 3.1 %

Shares of MBLY traded up $0.43 during mid-day trading on Wednesday, reaching $14.35. The company’s stock had a trading volume of 762,944 shares, compared to its average volume of 4,445,772. The stock has a market cap of $11.57 billion, a PE ratio of -67.14, a P/E/G ratio of 29.75 and a beta of 0.13. Mobileye Global has a 52 week low of $13.89 and a 52 week high of $44.48. The company’s fifty day moving average price is $24.17 and its two-hundred day moving average price is $26.88.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. Research analysts anticipate that Mobileye Global will post 0.08 EPS for the current year.

Insider Transactions at Mobileye Global

In other news, Director Patrick P. Gelsinger acquired 6,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Patrick P. Gelsinger acquired 6,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amnon Shashua acquired 631,963 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

Institutional investors have recently bought and sold shares of the company. Principal Securities Inc. bought a new position in Mobileye Global during the 4th quarter valued at about $28,000. Register Financial Advisors LLC bought a new position in Mobileye Global during the 1st quarter valued at about $32,000. National Bank of Canada FI lifted its stake in Mobileye Global by 90.0% during the 4th quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after acquiring an additional 675 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Mobileye Global during the 4th quarter valued at about $77,000. Finally, Lee Financial Co bought a new position in Mobileye Global during the 4th quarter valued at about $108,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.