Mobileye Global (NASDAQ:MBLY) Price Target Cut to $8.50 by Analysts at BNP Paribas Exane

Key Points

• BNP Paribas Exane cut its price target on Mobileye to $8.50 (from $11.50) and kept a "neutral" rating, implying only about an 8% upside from the recent close.
• Several brokerages have lowered targets and adjusted ratings recently; MarketBeat's consensus is a "Hold" with a consensus target of $14.79.
• Shares trade near $7.86 with a market cap of $6.4 billion and a 52-week range of $6.47–$20.18, while recent quarterly revenue fell 9% year-over-year and the company posted a negative net margin (~-20.7%).

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target reduced by investment analysts at BNP Paribas Exane from $11.50 to $8.50 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. BNP Paribas Exane's target price would suggest a potential upside of 8.21% from the stock's previous close.

A number of other brokerages have also recently commented on MBLY. Weiss Ratings reissued a "sell (e+)" rating on shares of Mobileye Global in a research note on Wednesday, January 28th. UBS Group cut their target price on Mobileye Global from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Zacks Research raised Mobileye Global from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Canaccord Genuity Group cut their target price on Mobileye Global from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, January 23rd. Finally, Wolfe Research cut Mobileye Global from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $14.79.

Mobileye Global Stock Performance

Mobileye Global stock traded down $0.02 during mid-day trading on Wednesday, reaching $7.86. The stock had a trading volume of 2,772,719 shares, compared to its average volume of 7,952,342. Mobileye Global has a fifty-two week low of $6.47 and a fifty-two week high of $20.18. The stock's 50-day simple moving average is $7.97 and its 200-day simple moving average is $10.37. The firm has a market capitalization of $6.40 billion, a PE ratio of -16.01 and a beta of 0.75.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.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 firm posted $0.13 earnings per share. The company's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts forecast that Mobileye Global will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

A number of hedge funds and other institutional investors have recently made changes to their positions in MBLY. IFP Advisors Inc boosted its stake in Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company's stock valued at $26,000 after acquiring an additional 1,495 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Mobileye Global during the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global during the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. purchased a new stake in shares of Mobileye Global during the 4th quarter worth approximately $32,000. Finally, Leonteq Securities AG bought a new stake in shares of Mobileye Global in the 4th quarter worth approximately $33,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

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.

Founded in 1999 by Prof.

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