Robert W. Baird Has Lowered Expectations for Mobileye Global (NASDAQ:MBLY) Stock Price

Key Points

• Robert W. Baird has lowered the target price for Mobileye Global's stock from $23.00 to $22.00, but still maintains an "outperform" rating.
• The consensus price target for Mobileye Global is $19.05, with a mix of analyst ratings including two sell, fourteen hold, and nine buy ratings.
• Mobileye Global's shares have dropped by 4.2%, trading at $15.42, with a recent earnings report showing revenue up 15.3% year-over-year.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its target price decreased by analysts at Robert W. Baird from $23.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price indicates a potential upside of 42.67% from the company's current price.

A number of other equities research analysts have also commented on the company. BNP Paribas raised Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. TD Cowen lifted their price target on Mobileye Global from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays lifted their price objective on Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Mizuho lifted their price target on Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.05.

Mobileye Global Trading Down 4.2%

Shares of NASDAQ MBLY opened at $15.42 on Friday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of -4.19, a PEG ratio of 16.63 and a beta of 0.54. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $22.51. The stock has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $15.81.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million for the quarter, compared to analysts' expectations of $466.42 million. Mobileye Global had a positive return on equity of 0.54% and a negative net margin of 160.50%. The firm's revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts predict that Mobileye Global will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Mobileye Global news, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction on 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 in the company, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction 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 transaction, the insider owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in shares of Mobileye Global by 273.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 51,028 shares of the company's stock worth $1,016,000 after acquiring an additional 37,353 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Mobileye Global during the 4th quarter worth $248,000. LPL Financial LLC increased its stake in shares of Mobileye Global by 96.2% during the 4th quarter. LPL Financial LLC now owns 147,974 shares of the company's stock worth $2,948,000 after purchasing an additional 72,550 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Mobileye Global by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock worth $34,181,000 after buying an additional 45,756 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Mobileye Global by 21.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,508,976 shares of the company's stock worth $32,745,000 after buying an additional 263,758 shares during the period. Institutional investors 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.

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