Mobileye Global (NASDAQ:MBLY) Price Target Cut to $7.50 by Analysts at UBS Group

Key Points

• UBS cut Mobileye Global’s price target from $9.00 to $7.50 while maintaining a “neutral” rating, implying roughly 4.9% upside from the stock’s $7.15 price. The analyst consensus remains “Hold,” with an average target of $11.41.
• Mobileye shares fell 4.3% to $7.15, near their 52-week low of $6.47. The stock has declined substantially from its 52-week high of $15.81.
• The company beat quarterly expectations, reporting $0.19 in adjusted EPS versus a $0.06 consensus estimate and revenue of $508 million versus $480.5 million expected. Two directors also purchased approximately $199,000 worth of shares in recent transactions.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective decreased by investment analysts at UBS Group from $9.00 to $7.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 4.90% from the stock's current price.

A number of other equities analysts have also issued reports on MBLY. JPMorgan Chase & Co. reduced their target price on Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. TD Cowen dropped their target price on Mobileye Global from $11.50 to $9.00 and set a "buy" rating for the company in a report on Friday, July 24th. Tigress Financial reduced their price target on shares of Mobileye Global from $25.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Mobileye Global in a research note on Friday, July 24th. Finally, Piper Sandler raised shares of Mobileye Global from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Mobileye Global presently has a consensus rating of "Hold" and an average price target of $11.41.

Mobileye Global Trading Down 4.3%

NASDAQ:MBLY traded down $0.32 during trading hours on Wednesday, reaching $7.15. The company had a trading volume of 4,250,290 shares, compared to its average volume of 6,944,617. The firm's 50 day moving average price is $8.28 and its 200-day moving average price is $8.61. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -1.43, a PEG ratio of 2.49 and a beta of 1.25. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $15.81.

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

Insider Transactions at Mobileye Global

In other news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of Mobileye Global stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director directly owned 84,336 shares of the company's stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Yeary acquired 12,360 shares of Mobileye Global stock in a transaction dated Thursday, July 30th. The shares were acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the transaction, the director owned 12,360 shares in the company, valued at approximately $98,632.80. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.00% of the company's stock.

Institutional Trading of Mobileye Global

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in Mobileye Global by 17.8% in the second quarter. Tidal Investments LLC now owns 159,149 shares of the company's stock valued at $1,541,000 after buying an additional 24,088 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Mobileye Global by 185.7% during the second quarter. WINTON GROUP Ltd now owns 147,700 shares of the company's stock worth $1,430,000 after purchasing an additional 96,000 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Mobileye Global by 11.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,421 shares of the company's stock worth $169,000 after acquiring an additional 1,732 shares during the period. Allworth Financial LP boosted its stake in shares of Mobileye Global by 63.6% in the 2nd quarter. Allworth Financial LP now owns 3,947 shares of the company's stock valued at $38,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Mobileye Global in the second quarter valued at approximately $77,000. 13.25% of the stock is owned by 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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