Mobileye Global (NASDAQ:MBLY) Given New $9.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley lowered Mobileye Global’s price target to $9 from $10 while maintaining an “equal weight” rating, implying 23.49% upside from the prior close.
• Analyst sentiment remains mixed, with Mobileye carrying a consensus “Hold” rating and an average price target of $11.25.
• Mobileye shares rose 1.9% to $7.29; the company’s latest quarterly results exceeded expectations, reporting $0.19 in EPS versus a $0.06 consensus estimate and $508 million in revenue.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective reduced by equities research analysts at Morgan Stanley from $10.00 to $9.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 23.49% from the stock's previous close.

A number of other analysts have also recently commented on MBLY. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mobileye Global in a research report on Friday, October 2nd. Mizuho decreased their price target on shares of Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Berenberg Bank upgraded shares of Mobileye Global from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a report on Monday, August 17th. The Goldman Sachs Group cut their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Tuesday, October 6th. Finally, Zacks Research raised shares of Mobileye Global from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Mobileye Global currently has an average rating of "Hold" and a consensus price target of $11.25.

Mobileye Global Stock Up 1.9%

NASDAQ MBLY traded up $0.14 during trading hours on Thursday, hitting $7.29. 2,999,172 shares of the stock were exchanged, compared to its average volume of 6,908,178. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -1.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.25. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.44. The stock has a 50-day moving average of $8.15 and a 200 day moving average of $8.60.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same period in the previous year, the firm earned ($0.08) EPS. The business's revenue was up .4% on a year-over-year basis. On average, equities research analysts expect that Mobileye Global will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Mobileye Global

In related news, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the acquisition, the director owned 84,336 shares in the company, valued at approximately $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Yeary acquired 12,360 shares of the business's stock in a transaction on Thursday, July 30th. The stock was bought at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the transaction, the director directly owned 12,360 shares of the company's stock, valued at $98,632.80. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock valued at $24,634,000 after acquiring an additional 705,400 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock worth $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Mobileye Global by 6.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,586,131 shares of the company's stock worth $19,112,000 after acquiring an additional 166,392 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Mobileye Global by 5.8% in the first quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock worth $13,991,000 after acquiring an additional 111,215 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Mobileye Global in the fourth quarter valued at about $15,290,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc is a technology company focused on advanced driver-assistance systems (ADAS) and autonomous driving. Its technologies are designed to help improve road safety and support automated driving through computer vision, artificial intelligence, sensor fusion and mapping.

The company develops and supplies products for automakers and mobility providers, including EyeQ system-on-chips, camera-based driver-assistance features, SuperVision hands-free driving technology, and autonomous driving platforms.

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