Mobileye Global (NASDAQ:MBLY) Price Target Lowered to $16.00 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 target price lowered by Bank of America from $18.00 to $16.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

MBLY has been the topic of a number of other reports. The Goldman Sachs Group lowered Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research note on Monday, June 9th. UBS Group lifted their price objective on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Barclays lifted their price objective on Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group lifted their price objective on Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.59.

Mobileye Global Stock Up 2.2%

Mobileye Global stock traded up $0.31 during trading hours on Wednesday, hitting $13.92. The stock had a trading volume of 1,973,027 shares, compared to its average volume of 5,325,139. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of -3.81, a P/E/G ratio of 8.56 and a beta of 0.52. Mobileye Global has a one year low of $10.62 and a one year high of $22.51. The business's 50 day simple moving average is $14.80 and its 200-day simple moving average is $15.13.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $466.42 million. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%.The firm's revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Mobileye Global has set its FY 2025 guidance at EPS. Research analysts anticipate that Mobileye Global will post 0.01 EPS for the current fiscal year.

Insider Activity

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the sale, the insider directly owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Mobileye Global

Several hedge funds have recently made changes to their positions in the company. Mystic Asset Management Inc. raised its stake in shares of Mobileye Global by 3.6% in the first quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after buying an additional 700 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Mobileye Global by 4.6% during 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 during the period. Sei Investments Co. raised its stake in shares of Mobileye Global by 2.5% during 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 during the period. Creative Planning raised its stake in shares of Mobileye Global by 10.2% during 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 during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global during the 2nd quarter valued at $31,000. 13.25% of the stock is currently owned by institutional investors.

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.