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

Mobileye Global (NASDAQ:MBLY) had its target price reduced by investment analysts at Needham & Company LLC from $25.00 to $20.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 28.45% from the company’s previous close.

A number of other brokerages also recently issued reports on MBLY. BNP Paribas downgraded shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price target for the company. in a report on Wednesday, October 2nd. Wolfe Research downgraded shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Royal Bank of Canada cut Mobileye Global from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $24.00 to $11.00 in a report on Tuesday, October 15th. Fox Advisors cut Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down previously from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.25.

Mobileye Global Trading Up 14.4 %

NASDAQ MBLY opened at $15.57 on Friday. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of -4.27 and a beta of 0.07. The business’s 50 day moving average is $12.77 and its two-hundred day moving average is $20.82. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a positive return on equity of 0.60% and a negative net margin of 164.13%. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. Mobileye Global’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in MBLY. Advisors Asset Management Inc. increased its stake in Mobileye Global by 9.9% during the first quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock worth $277,000 after acquiring an additional 774 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Mobileye Global by 24.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,299 shares of the company’s stock worth $203,000 after purchasing an additional 1,248 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in Mobileye Global by 16.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock valued at $119,000 after buying an additional 1,257 shares during the period. Levin Capital Strategies L.P. lifted its position in Mobileye Global by 11.1% during the second quarter. Levin Capital Strategies L.P. now owns 14,441 shares of the company’s stock valued at $406,000 after buying an additional 1,441 shares in the last quarter. Finally, Lipe & Dalton grew its stake in Mobileye Global by 53.6% during the first quarter. Lipe & Dalton now owns 4,300 shares of the company’s stock worth $138,000 after buying an additional 1,500 shares during the period. 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.