Mobileye Global (NASDAQ:MBLY) Price Target Cut to $7.50 by Analysts at JPMorgan Chase & Co.

Mobileye Global (NASDAQ:MBLY) had its price objective cut by JPMorgan Chase & Co. from $9.00 to $7.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 28.98% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Barclays cut 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 note on Wednesday, September 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mobileye Global in a research note on Friday, October 2nd. Royal Bank Of Canada downgraded Mobileye Global from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $7.00 to $5.00 in a research report on Wednesday, October 21st. TD Cowen lowered Mobileye Global from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $7.00 in a research note on Friday. Finally, Zacks Research lowered Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $10.63.

Mobileye Global Price Performance

Shares of MBLY traded down $0.14 during trading hours on Monday, hitting $5.82. 1,542,349 shares of the stock were exchanged, compared to its average volume of 6,929,543. The firm has a market capitalization of $4.88 billion, a P/E ratio of -1.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. Mobileye Global has a fifty-two week low of $5.76 and a fifty-two week high of $14.33. The business has a 50-day moving average of $7.68 and a 200-day moving average of $8.55.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $492.00 million for the quarter, compared to analyst estimates of $476.78 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Mobileye Global will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, with a total value of $100,174.86. Following the transaction, the director owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. The trade was a 16.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of MBLY. Mirae Asset Global Investments Co. Ltd. bought a new position in Mobileye Global in the 3rd quarter valued at approximately $396,000. State of Wyoming increased its holdings in Mobileye Global by 1,318.9% in the 3rd quarter. State of Wyoming now owns 33,316 shares of the company’s stock worth $246,000 after buying an additional 30,968 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Mobileye Global by 586.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 73,500 shares of the company’s stock worth $543,000 after buying an additional 62,800 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Mobileye Global in the 3rd quarter worth about $137,000. Finally, Financial Management Professionals Inc. lifted its stake in Mobileye Global by 176.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 4,231 shares of the company’s stock valued at $31,000 after acquiring an additional 2,700 shares during the period. 13.25% of the stock is currently owned by institutional investors.

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.