Needham & Company LLC Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

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

Other equities analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $25.00 to $18.00 in a research report on Friday, August 2nd. Evercore ISI decreased their price objective on shares of Mobileye Global from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wolfe Research cut Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. HSBC assumed coverage on Mobileye Global in a research note on Monday, July 15th. They set a “buy” rating and a $33.00 price target for the company. Finally, The Goldman Sachs Group dropped their price objective on Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and an average target price of $23.85.

Mobileye Global Trading Up 9.6 %

MBLY opened at $13.61 on Friday. The business’s 50 day moving average is $12.75 and its 200-day moving average is $20.93. The stock has a market cap of $11.01 billion, a PE ratio of -48.61 and a beta of 0.08. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, analysts forecast that Mobileye Global will post -0.06 EPS for the current year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction on Monday, August 5th. The stock was bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Mobileye Global in the first quarter worth about $1,294,000. AXA S.A. increased its position in Mobileye Global by 35.6% during the second quarter. AXA S.A. now owns 518,076 shares of the company’s stock worth $14,550,000 after acquiring an additional 135,967 shares during the period. Raymond James & Associates raised its stake in Mobileye Global by 258.7% during the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock valued at $9,448,000 after purchasing an additional 242,640 shares during the last quarter. M&G Plc boosted its holdings in Mobileye Global by 8.9% in the 2nd quarter. M&G Plc now owns 1,350,945 shares of the company’s stock valued at $37,826,000 after purchasing an additional 110,032 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Mobileye Global during the third quarter valued at about $635,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.