Mobileye Global (NASDAQ:MBLY) Given New $27.00 Price Target at Barclays

Mobileye Global (NASDAQ:MBLY) had its price objective cut by Barclays from $40.00 to $27.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on MBLY. Fox Advisors cut Mobileye Global from an overweight rating to an equal weight rating in a report on Thursday, August 1st. Piper Sandler upped their price objective on Mobileye Global from $31.00 to $32.00 and gave the company a neutral rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered Mobileye Global from an overweight rating to a neutral rating and decreased their price target for the stock from $38.00 to $24.00 in a research report on Wednesday, July 31st. Hsbc Global Res upgraded Mobileye Global to a strong-buy rating in a research report on Monday, July 15th. Finally, BNP Paribas lowered Mobileye Global from an outperform rating to a neutral rating and set a $17.00 price objective on the stock. in a research report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mobileye Global currently has a consensus rating of Moderate Buy and an average price target of $32.89.

Mobileye Global Price Performance

Shares of NASDAQ MBLY traded up $0.44 during trading hours on Monday, hitting $15.62. 6,767,352 shares of the company’s stock were exchanged, compared to its average volume of 4,429,120. Mobileye Global has a 1-year low of $14.33 and a 1-year high of $44.48. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of -72.29, a PEG ratio of 29.75 and a beta of 0.13. The company’s 50-day moving average price is $25.70 and its 200-day moving average price is $27.52.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations 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 revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, 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 purchased 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Amnon Shashua acquired 631,963 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick P. Gelsinger purchased 6,400 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired 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 owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI raised its position in shares of Mobileye Global by 2.7% in the second quarter. Arcadia Investment Management Corp MI now owns 123,466 shares of the company’s stock valued at $3,468,000 after buying an additional 3,192 shares in the last quarter. TD Asset Management Inc raised its position in shares of Mobileye Global by 182.9% in the second quarter. TD Asset Management Inc now owns 41,467 shares of the company’s stock valued at $1,165,000 after buying an additional 26,809 shares in the last quarter. Mandatum Life Insurance Co Ltd raised its position in Mobileye Global by 93.4% during the second quarter. Mandatum Life Insurance Co Ltd now owns 126,916 shares of the company’s stock valued at $3,564,000 after purchasing an additional 61,280 shares in the last quarter. Nicola Wealth Management LTD. raised its position in Mobileye Global by 22.0% during the second quarter. Nicola Wealth Management LTD. now owns 72,000 shares of the company’s stock valued at $2,022,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Mobileye Global by 67.8% during the second quarter. Van ECK Associates Corp now owns 15,434 shares of the company’s stock valued at $433,000 after purchasing an additional 6,234 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

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.