Mobileye Global (NASDAQ:MBLY) Lowered to Underperform at BNP Paribas

Mobileye Global (NASDAQ:MBLY) was downgraded by equities researchers at BNP Paribas from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday, FinViz reports. They currently have a $12.00 price target on the stock. BNP Paribas’ price target suggests a potential downside of 10.71% from the stock’s current price.

MBLY has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price objective on Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Wolfe Research cut shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. HSBC began coverage on shares of Mobileye Global in a research note on Monday, July 15th. They set a “buy” rating and a $33.00 price objective on the stock. Barclays dropped their target price on shares of Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Hsbc Global Res upgraded shares of Mobileye Global to a “strong-buy” rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.10.

Mobileye Global Stock Performance

Shares of Mobileye Global stock opened at $13.44 on Wednesday. The firm has a 50-day moving average of $14.51 and a 200-day moving average of $23.68. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $44.48. The stock has a market cap of $10.88 billion, a PE ratio of -64.00 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts predict that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mobileye Global news, Director Patrick P. Gelsinger purchased 6,400 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the transaction, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Patrick P. Gelsinger bought 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amnon Shashua purchased 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the purchase, the chief executive officer now owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MBLY. Steward Partners Investment Advisory LLC boosted its stake in shares of Mobileye Global by 41.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,706 shares of the company’s stock valued at $680,000 after purchasing an additional 4,585 shares during the last quarter. TD Asset Management Inc boosted its position in Mobileye Global by 59.2% during the fourth quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock valued at $6,068,000 after acquiring an additional 52,088 shares during the last quarter. Bank of Nova Scotia acquired a new stake in Mobileye Global during the 4th quarter worth about $402,000. Pinebridge Investments L.P. raised its position in shares of Mobileye Global by 70.4% in the 4th quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after acquiring an additional 100,494 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Mobileye Global by 200.3% in the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after purchasing an additional 2,266,438 shares during the period. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.