Mobileye Global (NASDAQ:MBLY) Stock Gets Price Target Trim from Barclays

Mobileye Global (NASDAQ:MBLY) had its price objective lowered by Barclays from $9.00 to $7.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also weighed in on MBLY. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Monday, August 17th. Piper Sandler raised Mobileye Global from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $12.00 in a research report on Monday, July 27th. Tigress Financial reduced their target price on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Zacks Research lowered Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Finally, Canaccord Genuity Group dropped their price target on Mobileye Global from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.43.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $5.34 on Monday. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -1.08, a PEG ratio of 1.71 and a beta of 1.30. Mobileye Global has a 1-year low of $5.30 and a 1-year high of $14.33. The company has a 50 day moving average price of $7.48 and a 200 day moving average price of $8.47.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $492.00 million for the quarter, compared to analyst estimates of $476.78 million. Mobileye Global had a negative net margin of 201.25% and a positive return on equity of 0.66%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. On average, sell-side analysts expect that Mobileye Global will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Mobileye Global by 24.5% in the first 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Mobileye Global by 6.9% in the third 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 period. Bank of America Corp DE boosted its position in shares of Mobileye Global by 5.8% in the first 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 period. M&G PLC grew its holdings in shares of Mobileye Global by 1.2% during the third quarter. M&G PLC now owns 1,813,282 shares of the company’s stock valued at $12,693,000 after buying an additional 21,799 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Mobileye Global during the third quarter valued at $9,074,000. 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.