Mobileye Global (NASDAQ:MBLY) Price Target Raised to $12.00 at JPMorgan Chase & Co.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $10.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 25.40% from the stock's current price.

A number of other research analysts have also weighed in on the stock. UBS Group raised their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Piper Sandler lifted their price target on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. TD Cowen increased their target price on shares of Mobileye Global from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 11th. BNP Paribas raised Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted 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 equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.21.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY traded up $0.04 during trading hours on Thursday, hitting $16.09. 3,135,961 shares of the company's stock traded hands, compared to its average volume of 5,826,674. The business has a fifty day moving average price of $16.62 and a 200-day moving average price of $15.89. Mobileye Global has a 1 year low of $10.48 and a 1 year high of $25.09. The firm has a market capitalization of $13.07 billion, a P/E ratio of -4.38, a price-to-earnings-growth ratio of 22.38 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. The firm had revenue of $438.00 million for the quarter, compared to analysts' expectations of $434.87 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm's revenue was up 83.3% compared to the same quarter last year. As a group, equities analysts predict that Mobileye Global will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Corp Intel sold 63,731,985 shares of the firm'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 transaction of $1,022,898,359.25. Following the sale, the insider owned 50,000,000 shares of the company's stock, valued at $802,500,000. This trade represents a 56.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $16.09, for a total value of $1,085,962.37. Following the transaction, the executive vice president owned 107,853 shares of the company's stock, valued at $1,735,354.77. This trade 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.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mystic Asset Management Inc. grew its holdings in shares of Mobileye Global by 3.6% in the 1st quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock worth $290,000 after purchasing an additional 700 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Mobileye Global by 4.6% in the first quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after acquiring an additional 914 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Mobileye Global during the first quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Mobileye Global in the fourth quarter valued at $40,000. Finally, Ancora Advisors LLC acquired a new position in shares of Mobileye Global during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 13.25% of the company's stock.

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.