Mobileye Global (NASDAQ:MBLY) Price Target Cut to $6.50 by Analysts at BNP Paribas Exane

Mobileye Global (NASDAQ:MBLY) had its price target lowered by investment analysts at BNP Paribas Exane from $7.50 to $6.50 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. BNP Paribas Exane‘s price target indicates a potential upside of 12.95% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. TD Cowen downgraded Mobileye Global from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $7.00 in a report on Friday. Canaccord Genuity Group cut their price target on shares of Mobileye Global from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mobileye Global in a research note on Friday, October 2nd. Zacks Research downgraded shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. Finally, Barclays lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $9.00 in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Mobileye Global presently has an average rating of “Hold” and an average target price of $10.54.

Mobileye Global Price Performance

Shares of NASDAQ MBLY traded down $0.20 during midday trading on Monday, hitting $5.75. 2,847,861 shares of the company’s stock were exchanged, compared to its average volume of 6,935,039. Mobileye Global has a twelve month low of $5.76 and a twelve month high of $14.33. The company has a market cap of $4.83 billion, a PE ratio of -1.16, a P/E/G ratio of 1.82 and a beta of 1.30. The firm’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $8.55.

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

Insider Activity at Mobileye Global

In related news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director directly owned 84,336 shares in the company, valued at $713,482.56. The trade was a 16.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Mobileye Global by 24.5% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock valued at $24,634,000 after purchasing an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Mobileye Global by 6.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company’s stock worth $19,112,000 after buying an additional 166,392 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Mobileye Global by 5.8% during the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company’s stock worth $13,991,000 after buying an additional 111,215 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Mobileye Global during the 3rd quarter worth $9,074,000. Finally, First Trust Advisors LP raised its position in shares of Mobileye Global by 27.7% in the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after buying an additional 249,921 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.