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

Mobileye Global (NASDAQ:MBLY) had its target price dropped by Canaccord Genuity Group from $12.00 to $11.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price suggests a potential upside of 84.56% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley dropped their price objective on Mobileye Global from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, October 15th. Needham & Company LLC lowered their price target on Mobileye Global from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday. Tigress Financial reduced their price objective on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group cut their target price on Mobileye Global from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Royal Bank Of Canada downgraded Mobileye Global from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $7.00 to $5.00 in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.71.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $5.96 on Friday. Mobileye Global has a 52-week low of $5.76 and a 52-week high of $14.33. The company’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $8.55. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -1.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 0.66% and a negative net margin of 201.25%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts anticipate that Mobileye Global will post 0.12 EPS for the current fiscal year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of Mobileye Global stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Mobileye Global by 63.6% during the second quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock worth $38,000 after buying an additional 1,535 shares in the last quarter. Financial Management Professionals Inc. grew its stake in Mobileye Global by 176.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock worth $31,000 after acquiring an additional 2,700 shares during the period. Bogart Wealth LLC boosted 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 worth $35,000 after acquiring an additional 5,000 shares during the last quarter. Nykredit A S purchased a new position in shares of Mobileye Global in the 2nd quarter worth about $77,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Mobileye Global by 204.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company’s stock valued at $60,000 after acquiring an additional 5,837 shares during the period. Hedge funds and other institutional investors 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.