Mobileye Global (NASDAQ:MBLY) Rating Lowered to Underperform at BNP Paribas

BNP Paribas lowered shares of Mobileye Global (NASDAQ:MBLY) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $12.00 target price on the stock.

Other analysts have also issued research reports about the stock. Westpark Capital reissued a hold rating on shares of Mobileye Global in a research report on Wednesday, July 31st. Morgan Stanley upgraded shares of Mobileye Global from an underweight rating to an equal weight rating and reduced their price objective for the stock from $25.00 to $18.00 in a research note on Friday, August 2nd. Barclays lowered their target price on Mobileye Global from $40.00 to $27.00 and set an overweight rating on the stock in a research report on Monday, August 5th. Robert W. Baird reduced their price target on Mobileye Global from $40.00 to $29.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Finally, Hsbc Global Res raised Mobileye Global to a strong-buy rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $28.80.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $12.93 on Wednesday. The business’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $23.42. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $44.48. The stock has a market capitalization of $10.46 billion, a PE ratio of -61.57 and a beta of 0.08.

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

Insider Transactions at Mobileye Global

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

Several institutional investors have recently added to or reduced their stakes in MBLY. Register Financial Advisors LLC bought a new position in Mobileye Global in the 1st quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of Mobileye Global in the fourth quarter worth approximately $77,000. Cranbrook Wealth Management LLC bought a new stake in Mobileye Global during the second quarter valued at approximately $84,000. Natixis Investment Managers International purchased a new position in Mobileye Global in the 1st quarter worth approximately $99,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Mobileye Global by 64.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after buying an additional 1,470 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.