Mobileye Global (NASDAQ:MBLY) Price Target Lowered to $18.00 at Tigress Financial

Mobileye Global (NASDAQ:MBLY) had its price target cut by Tigress Financial from $25.00 to $18.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

MBLY has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Mobileye Global in a research report on Friday, July 24th. Canaccord Genuity Group decreased their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, July 24th. The Goldman Sachs Group increased their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Zacks Research upgraded Mobileye Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada reduced their price target on Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.64.

Mobileye Global Stock Down 1.4%

Mobileye Global stock opened at $7.90 on Thursday. The firm has a fifty day moving average of $9.23 and a 200-day moving average of $8.89. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $15.81. The firm has a market capitalization of $6.65 billion, a P/E ratio of -1.58, a PEG ratio of 2.73 and a beta of 1.16.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts expect that Mobileye Global will post 0.11 EPS for the current fiscal year.

Mobileye Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its holdings in Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after purchasing an additional 1,090 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Mobileye Global by 6.3% during the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after buying an additional 1,110 shares in the last quarter. Greenfield Seitz Capital Management LLC grew its position in shares of Mobileye Global by 5.5% during the fourth quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock worth $281,000 after buying an additional 1,393 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Mobileye Global by 10.2% in the second quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after buying an additional 1,693 shares during the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.