The Goldman Sachs Group Lowers Mobileye Global (NASDAQ:MBLY) Price Target to $8.00

Key Points

• The Goldman Sachs Group cut its price target on Mobileye from $12.00 to $8.00, kept a "neutral" rating, and the new target implies roughly a 5.9% upside from the prior close.
• Several analysts have trimmed targets recently, leaving a MarketBeat consensus rating of 'Hold' and an average price target of $15.10.
• Mobileye reported $0.06 EPS (in line) and $446M revenue (beat estimates) last quarter, but revenue was down 9% YoY and the company has a negative net margin of 20.7%; the stock trades near $7.56 with a 12‑month range of $6.47–$20.18.

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price objective cut by investment analysts at The Goldman Sachs Group from $12.00 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 5.89% from the company's previous close.

MBLY has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, January 23rd. Royal Bank Of Canada cut their price objective on shares of Mobileye Global from $14.00 to $13.00 and set a "sector perform" rating on the stock in a report on Friday, January 23rd. Needham & Company LLC cut their target price on shares of Mobileye Global from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. Zacks Research raised shares of Mobileye Global from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Finally, HSBC raised shares of Mobileye Global to a "strong-buy" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Mobileye Global presently has a consensus rating of "Hold" and an average price target of $15.10.

Mobileye Global Stock Up 1.1%

MBLY stock traded up $0.09 during mid-day trading on Tuesday, hitting $7.56. 1,917,627 shares of the company were exchanged, compared to its average volume of 8,127,424. The firm has a market capitalization of $6.36 billion, a P/E ratio of -15.42 and a beta of 0.75. The business has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $10.65. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $20.18.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Research analysts predict that Mobileye Global will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Mobileye Global

Institutional investors have recently made changes to their positions in the stock. Intel Corp acquired a new position in shares of Mobileye Global during the 3rd quarter worth $706,000,000. Burkehill Global Management LP acquired a new position in shares of Mobileye Global during the 3rd quarter worth $42,360,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mobileye Global during the 3rd quarter worth $40,670,000. DNB Asset Management AS acquired a new position in shares of Mobileye Global during the 3rd quarter worth $40,212,000. Finally, Two Sigma Investments LP raised its stake in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock worth $61,898,000 after buying an additional 2,493,181 shares during the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc NASDAQ: MBLY is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye's core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.

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