Mobileye Global (NASDAQ:MBLY) Rating Lowered to Underweight at Morgan Stanley

Mobileye Global (NASDAQ:MBLY - Get Free Report) was downgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a report released on Friday, MarketBeat Ratings reports. They presently have a $25.00 target price on the stock, down from their prior target price of $26.00. Morgan Stanley's price target would suggest a potential downside of 14.38% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Robert W. Baird decreased their price objective on shares of Mobileye Global from $43.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada decreased their price objective on shares of Mobileye Global from $45.00 to $39.00 and set an "outperform" rating on the stock in a research report on Friday, January 26th. Piper Sandler initiated coverage on shares of Mobileye Global in a research report on Friday, March 15th. They issued a "neutral" rating and a $31.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of Mobileye Global from $43.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Mobileye Global from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Mobileye Global has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

Mobileye Global Stock Performance

Mobileye Global stock traded down $1.70 during midday trading on Friday, reaching $29.20. The company's stock had a trading volume of 5,591,377 shares, compared to its average volume of 4,611,774. Mobileye Global has a fifty-two week low of $23.49 and a fifty-two week high of $47.41. The stock's 50 day simple moving average is $29.23 and its 200 day simple moving average is $33.40. The firm has a market capitalization of $23.54 billion, a PE ratio of -729.82, a P/E/G ratio of 14.47 and a beta of -0.21.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $637.53 million. During the same period in the previous year, the firm earned $0.27 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts predict that Mobileye Global will post 0.14 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 3,600 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $27.75 per share, for a total transaction of $99,900.00. Following the transaction, the director now directly owns 129,095 shares of the company's stock, valued at approximately $3,582,386.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC bought a new position in Mobileye Global in the 3rd quarter worth approximately $25,000. Principal Securities Inc. bought a new position in Mobileye Global in the 4th quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC bought a new position in Mobileye Global in the 3rd quarter worth approximately $35,000. Register Financial Advisors LLC bought a new position in Mobileye Global in the 1st quarter worth approximately $32,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Mobileye Global by 33.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company's stock worth $50,000 after purchasing an additional 300 shares in the last quarter. 13.25% of the stock is owned by 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.