UBS Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $9.00

Mobileye Global (NASDAQ:MBLY) had its target price cut by UBS Group from $10.00 to $9.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

MBLY has been the subject of a number of other research reports. Mizuho decreased their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a report on Monday, May 18th. They set an “underperform” rating and a $8.00 target price on the stock. Weiss Ratings upgraded shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday. Finally, Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective for the company. in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.95.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $8.05 on Friday. The business’s 50 day moving average is $9.36 and its two-hundred day moving average is $8.99. Mobileye Global has a 52 week low of $6.47 and a 52 week high of $15.81. The company has a market cap of $6.77 billion, a PE ratio of -1.61 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The business had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. During the same period in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts expect that Mobileye Global will post -0.09 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors have recently bought and sold shares of the stock. Burkehill Global Management LP acquired a new position in shares of Mobileye Global during the third quarter valued at approximately $42,360,000. Two Sigma Investments LP lifted its position in Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the period. Assenagon Asset Management S.A. bought a new position in Mobileye Global during the 2nd quarter valued at $23,423,000. Engineers Gate Manager LP boosted its stake in Mobileye Global by 140.9% during the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after purchasing an additional 2,092,250 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Mobileye Global by 436.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after purchasing an additional 2,025,257 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.