The Goldman Sachs Group Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its target price dropped by The Goldman Sachs Group from $9.00 to $8.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 11.89% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Berenberg Bank upgraded Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Monday, August 17th. Mizuho lowered their price objective on Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Canaccord Genuity Group dropped their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, July 24th. Barclays reaffirmed an “equal weight” rating and issued a $9.00 target price (down from $14.00) on shares of Mobileye Global in a research note on Wednesday, September 30th. Finally, Piper Sandler upgraded Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Mobileye Global currently has an average rating of “Hold” and a consensus target price of $11.41.

Mobileye Global Trading Down 4.3%

NASDAQ:MBLY opened at $7.15 on Tuesday. The company’s 50-day moving average price is $8.26 and its 200-day moving average price is $8.60. The company has a market cap of $6.01 billion, a P/E ratio of -1.43, a P/E/G ratio of 2.45 and a beta of 1.25. Mobileye Global has a twelve month low of $6.47 and a twelve month high of $15.81.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. Mobileye Global’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, analysts expect that Mobileye Global will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frank D. Yeary bought 12,360 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the acquisition, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the transaction, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Mobileye Global during the second quarter worth $23,423,000. Engineers Gate Manager LP raised its stake in shares of Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Mobileye Global in the fourth quarter valued at $15,290,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in 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 during the period. Finally, First Trust Advisors LP grew its stake in Mobileye Global by 27.7% during the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after purchasing an additional 249,921 shares in the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.