The Goldman Sachs Group Trims Mobileye Global (NASDAQ:MBLY) Target Price to $24.00

Mobileye Global (NASDAQ:MBLY) had its price target reduced by The Goldman Sachs Group from $32.00 to $24.00 in a report issued on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Barclays dropped their price target on Mobileye Global from $43.00 to $40.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. Piper Sandler upped their price target on shares of Mobileye Global from $31.00 to $32.00 and gave the company a neutral rating in a report on Friday, April 26th. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating for the company in a research note on Friday. Citigroup reduced their target price on Mobileye Global from $58.00 to $53.00 and set a buy rating on the stock in a research note on Monday, April 29th. Finally, Hsbc Global Res raised Mobileye Global to a strong-buy rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $34.50.

Mobileye Global Stock Down 2.0 %

NASDAQ MBLY traded down $0.32 during mid-day trading on Friday, hitting $15.96. The stock had a trading volume of 11,217,270 shares, compared to its average volume of 5,417,960. The company has a 50 day simple moving average of $25.91 and a 200 day simple moving average of $27.63. The company has a market cap of $12.87 billion, a price-to-earnings ratio of -76.00, a P/E/G ratio of 29.75 and a beta of 0.13. Mobileye Global has a 52-week low of $15.21 and a 52-week high of $44.48.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after purchasing an additional 7,560,929 shares during the period. Norges Bank acquired a new position in Mobileye Global during the fourth quarter valued at approximately $437,842,000. Kodai Capital Management LP purchased a new stake in Mobileye Global during the fourth quarter worth approximately $148,924,000. Wellington Management Group LLP increased its position in shares of Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Mobileye Global by 25.8% during the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock valued at $113,616,000 after acquiring an additional 538,371 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.