TD Cowen Has Lowered Expectations for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its price target decreased by TD Cowen from $9.00 to $8.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 11.27% from the company’s current price.

A number of other research firms have also recently weighed in on MBLY. Tigress Financial lowered their price target on Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada decreased their target price on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Piper Sandler raised shares of Mobileye Global from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $12.00 in a research note on Monday, July 27th. Barclays reaffirmed an “equal weight” rating and set a $9.00 target price (down from $14.00) on shares of Mobileye Global in a research note on Wednesday, September 30th. Finally, Mizuho dropped their price target on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.18.

Mobileye Global Stock Performance

Shares of Mobileye Global stock opened at $7.19 on Monday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -1.44, a PEG ratio of 2.43 and a beta of 1.25. Mobileye Global has a fifty-two week low of $6.47 and a fifty-two week high of $15.19. The stock has a 50 day moving average of $8.07 and a 200 day moving average of $8.61.

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

Insiders Place Their Bets

In other news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Yeary purchased 12,360 shares of the stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds have recently bought and sold shares of MBLY. Bogart Wealth LLC boosted its holdings in Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock valued at $35,000 after acquiring an additional 5,000 shares during the period. Allworth Financial LP grew its position in Mobileye Global by 63.6% in the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company’s stock valued at $38,000 after acquiring an additional 1,535 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 in the last quarter. Nykredit A S purchased a new stake in Mobileye Global during the second quarter worth about $77,000. Finally, Impact Partnership Wealth LLC purchased a new stake in Mobileye Global during the first quarter worth about $81,000. 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.