Mobileye Global (NASDAQ:MBLY) Price Target Cut to $20.00 by Analysts at Needham & Company LLC

Mobileye Global (NASDAQ:MBLY) had its price target decreased by equities research analysts at Needham & Company LLC from $25.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 46.95% from the company’s current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their price target on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Daiwa Capital Markets lowered shares of Mobileye Global from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Mizuho downgraded Mobileye Global from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $13.00 in a report on Friday, October 11th. Barclays reduced their target price on Mobileye Global from $27.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Finally, Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $25.00 to $18.00 in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.85.

Mobileye Global Price Performance

Shares of Mobileye Global stock opened at $13.61 on Friday. Mobileye Global has a 1 year low of $10.48 and a 1 year high of $44.48. The business has a 50 day moving average price of $12.75 and a 200 day moving average price of $20.93. The company has a market capitalization of $11.01 billion, a P/E ratio of -48.61 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 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. During the same quarter last year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, research analysts expect that Mobileye Global will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling at Mobileye Global

In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds have recently added to or reduced their stakes in the business. Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global in the 2nd quarter worth about $84,000. Natixis Investment Managers International acquired a new stake in Mobileye Global during the first quarter worth about $99,000. EverSource Wealth Advisors LLC raised its stake in Mobileye Global by 1,019.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after acquiring an additional 3,478 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in Mobileye Global by 16.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Avitas Wealth Management LLC acquired a new position in Mobileye Global in the third quarter valued at approximately $137,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

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.