Mobileye Global (NASDAQ:MBLY) Price Target Cut to $16.00 by Analysts at Bank of America

Key Points

• Bank of America has lowered its price target for Mobileye Global from $18.00 to $16.00, reflecting a more cautious outlook with a "neutral" rating on the stock.
• Mobileye's stock experienced a 3.0% decline in trading, with shares closing at $14.46, while the company had a market cap of $11.78 billion.
• Recent analyst ratings show mixed sentiments, with most analysts recommending a hold, while nine have a buy rating and only one has a sell rating on the stock.

Mobileye Global (NASDAQ:MBLY - Free Report) had its price objective trimmed by Bank of America from $18.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on shares of Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Mobileye Global from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Needham & Company LLC restated a "buy" rating and set a $18.00 target price on shares of Mobileye Global in a research report on Friday, July 25th. Finally, Barclays boosted their target price on shares of Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Mobileye Global currently has a consensus rating of "Hold" and an average price target of $19.59.

Mobileye Global Price Performance

Shares of Mobileye Global stock traded down $0.50 during trading hours on Wednesday, hitting $13.61. The company had a trading volume of 5,582,344 shares, compared to its average volume of 3,778,047. The company's 50-day moving average is $14.80 and its two-hundred day moving average is $15.15. Mobileye Global has a twelve month low of $10.50 and a twelve month high of $22.51. The company has a market cap of $11.09 billion, a P/E ratio of -3.73, a price-to-earnings-growth ratio of 8.87 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million during the quarter, compared to analysts' expectations of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Mobileye Global has set its FY 2025 guidance at EPS. Sell-side analysts expect that Mobileye Global will post 0.01 EPS for the current year.

Insider Activity

In other news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction on Friday, July 11th. The stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the completion of the transaction, the insider owned 50,000,000 shares of the company's stock, valued at $802,500,000. The trade was a 56.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mystic Asset Management Inc. raised its position in shares of Mobileye Global by 3.6% in the 1st quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after purchasing an additional 700 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Mobileye Global by 4.6% in the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after purchasing an additional 914 shares in the last quarter. Sei Investments Co. raised its position in shares of Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company's stock valued at $811,000 after purchasing an additional 1,090 shares in the last quarter. Creative Planning raised its position in shares of Mobileye Global by 10.2% in the 2nd quarter. Creative Planning now owns 18,316 shares of the company's stock valued at $329,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 13.25% of the company's stock.

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.