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

Mobileye Global (NASDAQ:MBLY) had its price target cut by The Goldman Sachs Group from $32.00 to $24.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. UBS Group dropped their target price on shares of Mobileye Global from $36.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, July 10th. TD Cowen upped their price target on Mobileye Global from $35.00 to $37.00 and gave the stock a buy rating in a research note on Friday, April 26th. Morgan Stanley upgraded Mobileye Global from an underweight rating to an equal weight rating and lowered their price objective for the company from $25.00 to $18.00 in a research note on Friday. Barclays cut their target price on Mobileye Global from $43.00 to $40.00 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Finally, Needham & Company LLC cut 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 report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $34.50.

Mobileye Global Price Performance

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MBLY. Norges Bank bought a new stake in Mobileye Global during the 4th quarter valued at approximately $437,842,000. Baillie Gifford & Co. increased its stake in shares of Mobileye Global by 89.8% during the first quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after buying an additional 7,560,929 shares during the period. Kodai Capital Management LP bought a new stake in shares of Mobileye Global in the fourth quarter valued at about $148,924,000. Wellington Management Group LLP grew its holdings in Mobileye Global by 200.3% during the 4th 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, Janus Henderson Group PLC purchased a new position in Mobileye Global during the 1st quarter valued at about $69,638,000. 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.