Mobileye Global (NASDAQ:MBLY) Price Target Raised to $30.00

Key Points

• Mobileye Global had its price target increased by Canaccord Genuity Group from $25.00 to $30.00, indicating a potential upside of 101.67% from its previous close.
• Multiple analysts have given varying ratings, with Goldman Sachs lowering its rating to "neutral" and setting a price target of $17.00, while 14 analysts rated the stock as a hold.
• In Q2, Mobileye reported earnings of $0.13 per share, surpassing the expected $0.11, along with a revenue of $506 million, reflecting a 15.3% year-over-year increase.
• Insider trading activity included a significant sale of 63.7 million shares by a major shareholder, resulting in a noticeable decrease in their position in the company.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target upped by analysts at Canaccord Genuity Group from $25.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 108.91% from the company's previous close.

Several other analysts also recently commented on MBLY. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a research report on Friday. Wall Street Zen raised shares of Mobileye Global to a "sell" rating in a research report on Tuesday, April 29th. TD Cowen reduced their price target on shares of Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday. Robert W. Baird reduced their price target on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Mobileye Global has a consensus rating of "Hold" and a consensus price target of $19.58.

Mobileye Global Stock Down 5.4%

Mobileye Global stock traded down $0.82 during mid-day trading on Friday, hitting $14.36. 8,803,624 shares of the stock were exchanged, compared to its average volume of 10,510,796. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $22.51. The firm's fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $15.75. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of -3.93, a PEG ratio of 15.68 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 negative net margin of 153.91% and a positive return on equity of 0.73%. The company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, analysts forecast that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Corp Intel sold 63,731,985 shares of the 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 of the company's stock, valued at approximately $802,500,000. This represents a 56.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the completion of the sale, the executive vice president directly owned 107,853 shares in the company, valued at approximately $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. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors have recently modified their holdings of MBLY. Rhumbline Advisers purchased a new position in Mobileye Global in the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Mobileye Global during the 4th quarter valued at approximately $40,000. Ancora Advisors LLC bought a new stake in Mobileye Global in the 4th quarter worth approximately $40,000. Allianz SE purchased a new position in shares of Mobileye Global in the 4th quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Mobileye Global by 1,799.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock valued at $84,000 after acquiring an additional 5,543 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

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.