Mobileye Global (NASDAQ:MBLY) Price Target Cut to $17.00 by Analysts at Mizuho

Key Points

• Mizuho Research has lowered Mobileye Global's price target from $18.00 to $17.00, maintaining a "neutral" rating, which suggests a potential upside of 17.44% from the last closing price.
• Mobileye Global's current stock price is $14.48, and the company has a market capitalization of $11.76 billion.
• Insider trading activity includes substantial sales by major shareholder Corp Intel, reducing its stake by 56.04%.
• The firm reported earnings of $0.13 per share for the last quarter, exceeding expectations and showcasing a 15.3% increase in year-over-year revenue.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its target price decreased by stock analysts at Mizuho from $18.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price target suggests a potential upside of 18.38% from the company's current price.

Other research analysts have also issued reports about the stock. BNP Paribas raised shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target on the stock in a research report on Wednesday, April 23rd. Robert W. Baird dropped their price target on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a report on Friday. Finally, Wall Street Zen upgraded shares of Mobileye Global to a "sell" rating in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.58.

Mobileye Global Trading Down 5.4%

Shares of MBLY traded down $0.82 on Friday, reaching $14.36. The company's stock had a trading volume of 8,802,624 shares, compared to its average volume of 5,523,222. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $22.51. The stock has a market capitalization of $11.67 billion, a PE ratio of -3.93, a PEG ratio of 15.31 and a beta of 0.54. The firm has a fifty day moving average of $16.54 and a 200-day moving average of $15.76.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company had revenue of $506.00 million for the quarter, compared to analyst estimates of $466.42 million. During the same period last year, the firm earned $0.09 earnings per share. The firm's revenue was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that Mobileye Global will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Corp Intel sold 63,731,985 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the completion of the sale, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. The trade was a 56.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Boaz Ouriel sold 67,493 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the sale, the executive vice president owned 107,853 shares of the company's stock, valued at $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBLY. Norges Bank bought a new stake in Mobileye Global during the 4th quarter valued at $95,937,000. Dimensional Fund Advisors LP bought a new stake in Mobileye Global during the 4th quarter valued at $27,155,000. Light Street Capital Management LLC bought a new stake in Mobileye Global during the 4th quarter valued at $15,276,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Mobileye Global by 433.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock valued at $12,837,000 after buying an additional 724,695 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Mobileye Global during the 4th quarter valued at $13,897,000. 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.