The Goldman Sachs Group Lowers Mobileye Global (NASDAQ:MBLY) Price Target to $16.00

Key Points

• The Goldman Sachs Group has lowered the price target for Mobileye Global from $19.00 to $16.00, maintaining a "neutral" rating, which implies a 12.95% potential upside from the stock's previous close.
• Other analysts have varied opinions, with price targets ranging from $10.00 to $30.00 and a general consensus of "Hold" with an average price target of $19.53.
• Major shareholder Corp Intel sold a significant portion of its stake, decreasing ownership by 56.04%, while Mobileye Global's stock experienced a 2.3% increase in trading on the day the report was released.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target dropped by The Goldman Sachs Group from $19.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 12.95% from the company's previous close.

Other analysts also recently issued reports about the stock. Robert W. Baird decreased their price objective on shares of Mobileye Global from $22.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 3rd. Canaccord Genuity Group raised their price target on Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. TD Cowen dropped their price objective on Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Finally, Barclays lifted their target price on Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Mobileye Global presently has an average rating of "Hold" and an average target price of $19.53.

Mobileye Global Stock Up 2.3%

MBLY traded up $0.32 during midday trading on Monday, reaching $14.17. The company had a trading volume of 3,435,217 shares, compared to its average volume of 5,351,350. The business has a 50-day moving average of $14.27 and a two-hundred day moving average of $15.08. Mobileye Global has a 1 year low of $11.12 and a 1 year high of $22.51. The company has a market cap of $11.55 billion, a P/E ratio of -3.87, a P/E/G ratio of 8.71 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%.The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $466.42 million. During the same period in the previous year, the company posted $0.09 EPS. The firm's revenue was up 15.3% on a year-over-year basis. Mobileye Global has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Mobileye Global will post 0.01 EPS for the current year.

Insider Activity at Mobileye Global

In other news, major shareholder Corp Intel sold 63,731,985 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. This represents a 56.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mystic Asset Management Inc. boosted its position in Mobileye Global by 3.6% during the first quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after purchasing an additional 700 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Mobileye Global by 4.6% during the first quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after buying an additional 914 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Mobileye Global by 2.5% in the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company's stock valued at $811,000 after buying an additional 1,090 shares in the last quarter. Creative Planning grew its position in shares of Mobileye Global by 10.2% in the 2nd quarter. Creative Planning now owns 18,316 shares of the company's stock worth $329,000 after buying an additional 1,693 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Mobileye Global during the 2nd quarter worth approximately $31,000. 13.25% of the stock is 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.

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