Evercore ISI Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $30.00

Mobileye Global (NASDAQ:MBLY) had its price objective decreased by Evercore ISI from $35.00 to $30.00 in a research report sent to investors on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. HSBC started coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 target price for the company. Robert W. Baird reduced their price objective on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Mizuho lowered shares of Mobileye Global from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $13.00 in a research report on Friday, October 11th. The Goldman Sachs Group cut their target price on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, UBS Group cut shares of Mobileye Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $14.00 in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and a consensus target price of $25.55.

Mobileye Global Stock Down 0.3 %

Shares of Mobileye Global stock opened at $12.13 on Monday. Mobileye Global has a 52 week low of $10.48 and a 52 week high of $44.48. The firm’s 50 day moving average is $13.18 and its two-hundred day moving average is $22.31. The firm has a market capitalization of $9.82 billion, a P/E ratio of -57.76 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $424.34 million. During the same quarter in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger bought 6,400 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the transaction, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Amnon Shashua purchased 631,963 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the purchase, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick P. Gelsinger acquired 6,400 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares in the company, valued at $2,153,360.88. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its holdings in Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after purchasing an additional 7,560,929 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Mobileye Global by 807.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after buying an additional 8,073,552 shares during the period. Wellington Management Group LLP boosted its position in Mobileye Global by 200.3% during the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares during the last quarter. DAVENPORT & Co LLC grew its stake in Mobileye Global by 20.9% in the 1st quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock worth $76,519,000 after acquiring an additional 408,038 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Mobileye Global by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock valued at $65,923,000 after acquiring an additional 94,946 shares during the last quarter. 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.