Robert W. Baird Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $29.00

Mobileye Global (NASDAQ:MBLY) had its price objective lowered by Robert W. Baird from $40.00 to $29.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also weighed in on MBLY. HSBC started coverage on shares of Mobileye Global in a report on Monday, July 15th. They issued a buy rating and a $33.00 price target for the company. JPMorgan Chase & Co. cut shares of Mobileye Global from an overweight rating to a neutral rating and cut their price objective for the company from $38.00 to $24.00 in a research report on Wednesday, July 31st. Canaccord Genuity Group boosted their price objective on shares of Mobileye Global from $31.00 to $37.00 and gave the company a buy rating in a research report on Friday, April 26th. Fox Advisors cut shares of Mobileye Global from an overweight rating to an equal weight rating in a research report on Thursday. Finally, Needham & Company LLC lowered their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $33.58.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY traded down $0.78 on Friday, reaching $15.18. 6,245,953 shares of the company traded hands, compared to its average volume of 4,413,248. Mobileye Global has a fifty-two week low of $14.33 and a fifty-two week high of $44.48. The company’s 50 day moving average is $25.91 and its 200-day moving average is $27.61. The stock has a market capitalization of $12.24 billion, a PE ratio of -72.29, a P/E/G ratio of 29.75 and a beta of 0.13.

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

Insider Activity

In other Mobileye Global news, CEO Amnon Shashua bought 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the transaction, 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 accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently modified their holdings of MBLY. Vanguard Group Inc. increased its position in shares of Mobileye Global by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,104,828 shares of the company’s stock worth $45,906,000 after purchasing an additional 23,342 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Mobileye Global by 33.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,600 shares of the company’s stock valued at $69,000 after acquiring an additional 400 shares during the period. International Assets Investment Management LLC boosted its holdings in Mobileye Global by 163.7% during the 4th quarter. International Assets Investment Management LLC now owns 2,816 shares of the company’s stock valued at $122,000 after acquiring an additional 1,748 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Mobileye Global by 5.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,392,387 shares of the company’s stock valued at $61,042,000 after acquiring an additional 71,000 shares during the period. Finally, Birch Hill Investment Advisors LLC purchased a new position in Mobileye Global during the 4th quarter valued at about $19,017,000. 13.25% of the stock is owned by institutional investors and hedge funds.

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.