Mobileye Global (NASDAQ:MBLY) Given New $24.00 Price Target at Wells Fargo & Company

Mobileye Global (NASDAQ:MBLY - Free Report) had its price objective lifted by Wells Fargo & Company from $18.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC lowered their price objective on Mobileye Global from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lifted their price objective on Mobileye Global from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research report on Monday, June 9th. Barclays reaffirmed an "equal weight" rating and set a $14.00 price objective (down from $22.00) on shares of Mobileye Global in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Mobileye Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.05.

Mobileye Global Stock Down 3.8%

NASDAQ:MBLY traded down $0.65 on Wednesday, hitting $16.67. The stock had a trading volume of 44,323,635 shares, compared to its average volume of 5,693,207. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of -4.53, a price-to-earnings-growth ratio of 93.26 and a beta of 0.54. The business's 50-day simple moving average is $16.49 and its two-hundred day simple moving average is $16.09. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $27.68.

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

Insider Transactions at Mobileye Global

In related news, EVP Boaz Ouriel sold 67,493 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the completion of the transaction, the executive vice president owned 107,853 shares in the company, valued at $1,735,354.77. The trade was a 38.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers purchased a new stake in shares of Mobileye Global during the 1st quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mobileye Global during the 4th quarter worth $40,000. Ancora Advisors LLC purchased a new stake in shares of Mobileye Global during the 4th quarter worth $40,000. Allianz SE purchased a new stake in shares of Mobileye Global during the 4th quarter worth $43,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Mobileye Global by 1,795.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,033 shares of the company's stock worth $60,000 after purchasing an additional 2,873 shares during the last quarter. 13.25% of the stock is currently 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.