The Goldman Sachs Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $24.00

Mobileye Global (NASDAQ:MBLY) had its price objective lowered by The Goldman Sachs Group from $32.00 to $24.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on MBLY. Barclays reduced their price target on shares of Mobileye Global from $43.00 to $40.00 and set an overweight rating for the company in a report on Tuesday, July 16th. TD Cowen raised their price target on shares of Mobileye Global from $35.00 to $37.00 and gave the stock a buy rating in a report on Friday, April 26th. Robert W. Baird reduced their price target on shares of Mobileye Global from $40.00 to $29.00 and set an outperform rating for the company in a report on Friday. Hsbc Global Res raised shares of Mobileye Global to a strong-buy rating in a research note on Monday, July 15th. Finally, Needham & Company LLC dropped their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global currently has a consensus rating of Moderate Buy and a consensus price target of $33.58.

Mobileye Global Trading Down 4.3 %

NASDAQ:MBLY traded down $0.69 on Friday, reaching $15.27. 3,935,299 shares of the stock traded hands, compared to its average volume of 4,397,740. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of -75.28, a price-to-earnings-growth ratio of 29.75 and a beta of 0.13. The company’s 50 day moving average is $25.91 and its 200-day moving average is $27.61. Mobileye Global has a 1-year low of $14.35 and a 1-year high of $44.48.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data 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 analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. Mobileye Global’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. On average, equities research analysts forecast that Mobileye Global will post 0.08 EPS for the current fiscal year.

Institutional Trading of Mobileye Global

Several hedge funds have recently added to or reduced their stakes in MBLY. Baillie Gifford & Co. increased its stake in shares of Mobileye Global by 89.8% in the first quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after purchasing an additional 7,560,929 shares in the last quarter. Norges Bank purchased a new position in shares of Mobileye Global in the fourth quarter worth about $437,842,000. Kodai Capital Management LP purchased a new position in shares of Mobileye Global in the fourth quarter worth about $148,924,000. Wellington Management Group LLP increased its stake in shares of Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after purchasing an additional 2,266,438 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Mobileye Global by 25.8% in the fourth quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock worth $113,616,000 after purchasing an additional 538,371 shares in the last quarter. Institutional investors 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.