Mobileye Global (NASDAQ:MBLY) Price Target Cut to $24.00

Mobileye Global (NASDAQ:MBLY) had its price target cut by investment analysts at Royal Bank of Canada from $34.00 to $24.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 69.25% from the stock’s current price.

MBLY has been the subject of a number of other reports. Citigroup cut their target price on Mobileye Global from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Barclays cut their target price on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. TD Cowen raised their target price on Mobileye Global from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BNP Paribas downgraded Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday, August 5th. Finally, Hsbc Global Res raised Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mobileye Global has an average rating of “Moderate Buy” and a consensus target price of $32.11.

Mobileye Global Price Performance

NASDAQ MBLY traded down $0.66 during mid-day trading on Wednesday, hitting $14.18. The stock had a trading volume of 2,394,800 shares, compared to its average volume of 4,446,308. The firm’s 50 day moving average is $24.41 and its 200 day moving average is $26.97. Mobileye Global has a twelve month low of $14.11 and a twelve month high of $44.48. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of -67.62, a PEG ratio of 29.75 and a beta of 0.13.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. During the same period in the prior year, the company earned $0.11 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Mobileye Global will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other Mobileye Global news, Director Patrick P. Gelsinger bought 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the purchase, the director now directly owns 139,106 shares in the company, valued at $2,153,360.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Amnon Shashua acquired 631,963 shares of Mobileye Global stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the purchase, the chief executive officer now owns 4,080,097 shares in the company, valued at $67,362,401.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the purchase, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently modified their holdings of the stock. Capital Investment Advisory Services LLC raised its stake in shares of Mobileye Global by 2.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 14,700 shares of the company’s stock worth $637,000 after purchasing an additional 400 shares during the last quarter. Green Alpha Advisors LLC raised its stake in shares of Mobileye Global by 2.6% during the first quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock worth $630,000 after purchasing an additional 500 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Mobileye Global during the fourth quarter worth approximately $28,000. Perigon Wealth Management LLC raised its stake in shares of Mobileye Global by 6.7% during the first quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock worth $341,000 after purchasing an additional 664 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Mobileye Global by 90.0% during the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock worth $59,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other 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.