TD Cowen Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Key Points

• TD Cowen has lowered its price target for Mobileye Global (NASDAQ:MBLY) from $22.00 to $20.00, while maintaining a "buy" rating, suggesting a potential upside of 29.70% from the previous close.
• Despite a recent earnings report beating analyst estimates, Mobileye Global's stock is down 4.2%, with the current trading price around $15.42.
• Insider trading activity includes Intel selling over 63 million shares, significantly reducing their stake, while institutional ownership stands at 13.25%.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target reduced by research analysts at TD Cowen from $22.00 to $20.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 29.70% from the stock's previous close.

MBLY has been the topic of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research note on Monday, June 9th. Wall Street Zen raised shares of Mobileye Global to a "sell" rating in a research report on Tuesday, April 29th. BNP Paribas raised shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Mizuho upped their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.05.

Mobileye Global Stock Down 4.2%

Mobileye Global stock opened at $15.42 on Friday. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $22.51. The firm has a fifty day moving average of $16.57 and a 200-day moving average of $15.81. The firm has a market capitalization of $12.53 billion, a P/E ratio of -4.19, a PEG ratio of 16.63 and a beta of 0.54.

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

Insiders Place Their Bets

In related news, major shareholder Corp Intel sold 63,731,985 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the transaction, the insider directly owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the sale, the executive vice president directly owned 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Mobileye Global during the 4th quarter worth approximately $95,937,000. Dimensional Fund Advisors LP purchased a new stake in Mobileye Global during the 4th quarter worth approximately $27,155,000. Light Street Capital Management LLC purchased a new stake in Mobileye Global during the 4th quarter worth approximately $15,276,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Mobileye Global by 433.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock worth $12,837,000 after buying an additional 724,695 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Mobileye Global during the 4th quarter worth approximately $13,897,000. Institutional investors and hedge funds own 13.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.