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

Shares of Mobileye Global Inc. (NASDAQ:MBLY) were down 5.1% 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. Approximately 2,284,330 shares changed hands during trading, a decline of 50% from the average daily volume of 4,578,108 shares. The stock had previously closed at $29.20.

A number of other brokerages also recently commented on MBLY. Bank of America downgraded Mobileye Global from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $47.00 to $22.00 in a research note on Thursday, January 4th. Royal Bank of Canada lowered their target price on Mobileye Global from $45.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of Mobileye Global in a research note on Friday. Piper Sandler boosted their target price on Mobileye Global from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday. Finally, TD Cowen boosted their price target on Mobileye Global from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.58.

Hedge Funds Weigh In On Mobileye Global

Large investors have recently made changes to their positions in the business. CWM LLC acquired a new position in shares of Mobileye Global during the 3rd quarter worth about $25,000. Principal Securities Inc. acquired a new position in shares of Mobileye Global during the 4th quarter worth about $28,000. Register Financial Advisors LLC acquired a new position in Mobileye Global in the 1st quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new position in Mobileye Global in the 3rd quarter valued at approximately $35,000. Finally, Venturi Wealth Management LLC raised its holdings in Mobileye Global by 33.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Trading Down 6.0 %

The firm has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $33.33. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of -131.85, a PEG ratio of 13.57 and a beta of -0.22.

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

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.