JPMorgan Chase & Co. Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Key Points

• JPMorgan cut its price target on Mobileye to $9.00 from $11.00 and maintained a "neutral" rating, which it says implies about a 15% upside from the current share price.
• The Street consensus is a "Hold" with an average price target of $14.90, but analyst views are mixed as several firms have recently trimmed targets or adjusted ratings.
• Mobileye traded at about $7.83 (up ~1.4%); the latest quarter beat revenue estimates at $446M with EPS of $0.06, yet the company showed a negative net margin (−20.7%) and year-over-year revenue decline of 9%.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 15.02% from the stock's current price.

A number of other analysts also recently commented on MBLY. Wolfe Research downgraded Mobileye Global from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 12th. Zacks Research raised Mobileye Global from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Canaccord Genuity Group dropped their price objective on shares of Mobileye Global from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, January 23rd. UBS Group cut their target price on shares of Mobileye Global from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Needham & Company LLC lowered their price target on shares of Mobileye Global from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.90.

Mobileye Global Trading Up 1.4%

NASDAQ MBLY traded up $0.11 on Thursday, hitting $7.83. 4,215,697 shares of the company's stock traded hands, compared to its average volume of 8,077,963. The firm's 50-day moving average price is $8.04 and its two-hundred day moving average price is $10.58. The firm has a market capitalization of $6.38 billion, a PE ratio of -15.97 and a beta of 0.75. Mobileye Global has a 1-year low of $6.47 and a 1-year high of $20.18.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The firm had revenue of $446.00 million during the quarter, compared to analysts' expectations of $430.69 million. During the same quarter last year, the company posted $0.13 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mobileye Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the second quarter valued at about $31,000. IFP Advisors Inc boosted its holdings in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company's stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in Mobileye Global in the 1st quarter worth about $27,000. Financial Management Professionals Inc. purchased a new stake in Mobileye Global during the 4th quarter worth approximately $32,000. Finally, Leonteq Securities AG acquired a new position in shares of Mobileye Global during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

About Mobileye Global

Mobileye Global Inc NASDAQ: MBLY is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye's core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

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