Canaccord Genuity Group Lowers Mobileye Global (NASDAQ:MBLY) Price Target to $25.00

Mobileye Global (NASDAQ:MBLY - Get Free Report) had its price target lowered by stock analysts at Canaccord Genuity Group from $27.00 to $25.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 60.57% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Westpark Capital reaffirmed a "hold" rating on shares of Mobileye Global in a research report on Wednesday, July 31st. Royal Bank of Canada lowered shares of Mobileye Global from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $24.00 to $11.00 in a research report on Tuesday, October 15th. BNP Paribas downgraded shares of Mobileye Global from a "neutral" rating to an "underperform" rating and set a $12.00 price objective on the stock. in a research report on Wednesday, October 2nd. Daiwa Capital Markets cut shares of Mobileye Global from a "buy" rating to a "neutral" rating in a research note on Monday, August 5th. Finally, Daiwa America lowered Mobileye Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mobileye Global currently has a consensus rating of "Hold" and an average target price of $23.25.

Mobileye Global Stock Up 14.4 %

Shares of NASDAQ MBLY traded up $1.96 during trading on Friday, reaching $15.57. 17,089,640 shares of the company traded hands, compared to its average volume of 4,954,566. The firm has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $20.82. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $44.48. The stock has a market capitalization of $12.60 billion, a PE ratio of -55.61 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $424.34 million. The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. As a group, research analysts predict that Mobileye Global will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patrick P. Gelsinger acquired 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now directly owns 139,106 shares of the company's stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cranbrook Wealth Management LLC bought a new position in Mobileye Global in the second quarter worth approximately $84,000. Natixis Investment Managers International bought a new position in shares of Mobileye Global during the 1st quarter worth $99,000. EverSource Wealth Advisors LLC increased its stake in shares of Mobileye Global by 1,019.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company's stock valued at $107,000 after buying an additional 3,478 shares during the period. Lipe & Dalton raised its holdings in shares of Mobileye Global by 53.6% in the first quarter. Lipe & Dalton now owns 4,300 shares of the company's stock valued at $138,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Mobileye Global in the second quarter worth about $147,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

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.