Mobileye Global (NASDAQ:MBLY) PT Lowered to $20.00 at The Goldman Sachs Group

Mobileye Global (NASDAQ:MBLY) had its price target lowered by investment analysts at The Goldman Sachs Group from $24.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 43.27% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird reduced their price objective on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. BNP Paribas downgraded shares of Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research report on Monday, August 5th. Barclays dropped their price objective on shares of Mobileye Global from $40.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Daiwa America downgraded Mobileye Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $25.00 to $18.00 in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.35.

Mobileye Global Trading Up 1.9 %

NASDAQ MBLY traded up $0.26 during trading hours on Tuesday, reaching $13.96. 361,743 shares of the company traded hands, compared to its average volume of 4,767,797. The company has a 50 day moving average of $14.71 and a two-hundred day moving average of $23.78. The stock has a market capitalization of $11.30 billion, a PE ratio of -66.48 and a beta of 0.08. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $44.48.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Mobileye Global

Several hedge funds have recently bought and sold shares of MBLY. Wells Fargo & Company MN grew its position in Mobileye Global by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock valued at $11,430,000 after purchasing an additional 34,763 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Mobileye Global by 41.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,706 shares of the company’s stock valued at $680,000 after buying an additional 4,585 shares during the period. TD Asset Management Inc grew its holdings in shares of Mobileye Global by 59.2% during the 4th 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 in the last quarter. Bank of Nova Scotia acquired a new position in shares of Mobileye Global in the fourth quarter worth $402,000. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Mobileye Global by 1.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 72,656 shares of the company’s stock worth $3,147,000 after acquiring an additional 779 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

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.