Mobileye Global (NASDAQ:MBLY) Given New $7.00 Price Target at UBS Group

Key Points

• UBS cut Mobileye Global’s price target from $7.50 to $7.00 while maintaining a “neutral” rating, implying 17.45% upside from the prior close.
• Analyst sentiment remains mixed but averages to “Hold,” with an average price target of $10.71; recent target reductions included RBC, Mizuho, Needham and Canaccord.
• Mobileye exceeded quarterly expectations with $0.11 EPS versus $0.10 expected and $492 million in revenue versus $476.78 million forecast, though revenue declined 2.4% year over year and the stock opened at $5.96.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target cut by investment analysts at UBS Group from $7.50 to $7.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 17.45% from the stock's previous close.

MBLY has been the subject of several other reports. Royal Bank Of Canada downgraded Mobileye Global from a "sector perform" rating to an "underperform" rating and reduced their target price for the stock from $7.00 to $5.00 in a research note on Wednesday, October 21st. Mizuho lowered their price objective on Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, July 24th. Needham & Company LLC dropped their target price on shares of Mobileye Global from $13.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. Finally, Citigroup began coverage on Mobileye Global in a research report on Friday, October 16th. They set a "buy" rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Mobileye Global currently has an average rating of "Hold" and an average target price of $10.71.

Mobileye Global Stock Performance

NASDAQ MBLY opened at $5.96 on Friday. Mobileye Global has a 12 month low of $5.76 and a 12 month high of $14.33. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $8.55. The company has a market cap of $5.01 billion, a PE ratio of -1.20, a PEG ratio of 1.82 and a beta of 1.30.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $492.00 million for the quarter, compared to analyst estimates of $476.78 million. Mobileye Global had a negative net margin of 201.25% and a positive return on equity of 0.66%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts predict that Mobileye Global will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Mobileye Global

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the transaction, the director owned 84,336 shares of the company's stock, valued at approximately $713,482.56. This represents a 16.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

Hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Mobileye Global by 24.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock valued at $24,634,000 after purchasing an additional 705,400 shares during the period. Assenagon Asset Management S.A. increased its stake in Mobileye Global by 6.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company's stock worth $19,112,000 after buying an additional 166,392 shares in the last quarter. Bank of America Corp DE increased its stake in Mobileye Global by 5.8% in the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock worth $13,991,000 after buying an additional 111,215 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Mobileye Global in the 3rd quarter worth $9,074,000. Finally, First Trust Advisors LP raised its holdings in Mobileye Global by 27.7% during the first quarter. First Trust Advisors LP now owns 1,152,499 shares of the company's stock valued at $7,918,000 after acquiring an additional 249,921 shares during the period. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc NASDAQ: MBLY develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.

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