Mobileye Global (NASDAQ:MBLY) Stock Price Down 5.1% on Analyst Downgrade

Mobileye Global Inc. (NASDAQ:MBLY)’s stock price traded down 5.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $58.00 to $53.00. Citigroup currently has a buy rating on the stock. Mobileye Global traded as low as $27.36 and last traded at $27.72. 2,284,330 shares were traded during mid-day trading, a decline of 50% from the average session volume of 4,578,108 shares. The stock had previously closed at $29.20.

A number of other equities analysts also recently weighed in on MBLY. Royal Bank of Canada lowered their price target on Mobileye Global from $45.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Raymond James lowered their price target on Mobileye Global from $48.00 to $40.00 in a research report on Monday, January 22nd. Mizuho lowered their price target on Mobileye Global from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of Mobileye Global in a research report on Friday. Finally, Wolfe Research raised Mobileye Global from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Mobileye Global has an average rating of “Moderate Buy” and an average target price of $40.58.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors have recently made changes to their positions in MBLY. Norges Bank bought a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $437,842,000. Kodai Capital Management LP bought a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $148,924,000. Wellington Management Group LLP boosted 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 valued at $147,210,000 after buying an additional 2,266,438 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Mobileye Global by 4,749.0% in the third quarter. Ameriprise Financial Inc. now owns 1,115,030 shares of the company’s stock valued at $46,329,000 after buying an additional 1,092,035 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in shares of Mobileye Global in the first quarter valued at approximately $34,684,000. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Stock Down 6.0 %

The firm has a market capitalization of $22.12 billion, a P/E ratio of -131.85, a PEG ratio of 13.57 and a beta of -0.22. The firm has a 50 day moving average of $29.23 and a 200-day moving average of $33.33.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Mobileye Global had a positive return on equity of 1.75% and a negative net margin of 8.92%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $637.53 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts expect that Mobileye Global Inc. will post 0.14 EPS for the current year.

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.