Mobileye Global (NASDAQ:MBLY) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Mobileye Global (NASDAQ:MBLY) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $24.00 price objective on the stock, down from their previous price objective of $38.00.

Several other research firms have also recently weighed in on MBLY. HSBC assumed coverage on shares of Mobileye Global in a research note on Monday, July 15th. They issued a buy rating and a $33.00 target price for the company. Morgan Stanley cut shares of Mobileye Global from an equal weight rating to an underweight rating and cut their price target for the stock from $26.00 to $25.00 in a research note on Friday, April 26th. Canaccord Genuity Group raised their price target on shares of Mobileye Global from $31.00 to $37.00 and gave the stock a buy rating in a research note on Friday, April 26th. Piper Sandler raised their price target on shares of Mobileye Global from $31.00 to $32.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Finally, Needham & Company LLC restated a buy rating and set a $36.00 price target on shares of Mobileye Global in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $34.50.

Mobileye Global Stock Performance

NASDAQ MBLY opened at $15.96 on Wednesday. The firm has a 50-day simple moving average of $25.91 and a 200 day simple moving average of $27.62. Mobileye Global has a twelve month low of $15.21 and a twelve month high of $44.48. The stock has a market cap of $12.87 billion, a PE ratio of -76.00, a PEG ratio of 29.75 and a beta of 0.13.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds have recently added to or reduced their stakes in MBLY. Baillie Gifford & Co. raised its holdings in Mobileye Global by 89.8% during 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 last quarter. Norges Bank acquired a new position in Mobileye Global in the fourth quarter valued at approximately $437,842,000. Kodai Capital Management LP bought a new position in Mobileye Global in the fourth quarter valued at approximately $148,924,000. Wellington Management Group LLP boosted its stake in Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after acquiring an additional 2,266,438 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Mobileye Global by 25.8% in the fourth 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 during the last quarter. Institutional investors 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.