Canaccord Genuity Group Has Lowered Expectations for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its target price reduced by Canaccord Genuity Group from $27.00 to $25.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Wolfe Research downgraded shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a research note on Tuesday, September 10th. The Goldman Sachs Group reduced their target price on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Robert W. Baird upped their price objective on shares of Mobileye Global from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.25.

Mobileye Global Stock Performance

MBLY traded up $1.96 on Friday, hitting $15.57. 17,110,626 shares of the company were exchanged, compared to its average volume of 4,954,566. The stock’s fifty day moving average is $12.77 and its 200-day moving average is $20.82. Mobileye Global has a 12 month low of $10.48 and a 12 month high of $44.48. The company has a market cap of $12.60 billion, a PE ratio of -55.61 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS 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 the consensus estimate of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities research analysts expect that Mobileye Global will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patrick P. Gelsinger purchased 6,400 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the acquisition, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Mobileye Global during the first quarter worth $1,294,000. AXA S.A. increased its position in Mobileye Global by 35.6% in the 2nd quarter. AXA S.A. now owns 518,076 shares of the company’s stock valued at $14,550,000 after acquiring an additional 135,967 shares during the period. Raymond James & Associates raised its stake in shares of Mobileye Global by 258.7% during the second quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock valued at $9,448,000 after acquiring an additional 242,640 shares during the last quarter. M&G Plc lifted its holdings in shares of Mobileye Global by 8.9% during the second quarter. M&G Plc now owns 1,350,945 shares of the company’s stock worth $37,826,000 after purchasing an additional 110,032 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Mobileye Global in the 3rd quarter valued at about $635,000. 13.25% of the stock is currently owned by institutional investors.

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.