UBS Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $13.00

Mobileye Global (NASDAQ:MBLY) had its price target lowered by stock analysts at UBS Group from $17.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 17.49% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Mobileye Global from an “underweight” rating to a “neutral” rating and increased their price target for the company from $12.00 to $13.00 in a report on Tuesday, January 6th. Tigress Financial lifted their price target on shares of Mobileye Global from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Wolfe Research cut Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Monday. Barclays raised Mobileye Global from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $17.00 to $16.00 in a report on Monday, January 5th. Finally, TD Cowen lowered their target price on Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.84.

Mobileye Global Stock Up 2.9%

NASDAQ MBLY traded up $0.32 during trading hours on Wednesday, hitting $11.07. 6,398,298 shares of the stock were exchanged, compared to its average volume of 15,797,670. The company has a market cap of $9.00 billion, a price-to-earnings ratio of -26.27, a price-to-earnings-growth ratio of 2.92 and a beta of 0.57. Mobileye Global has a 12-month low of $10.04 and a 12-month high of $20.18. The stock has a 50-day moving average of $11.35 and a 200 day moving average of $13.57.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, October 23rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $479.93 million. Mobileye Global had a positive return on equity of 0.68% and a negative net margin of 17.34%.The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, equities research analysts expect that Mobileye Global will post 0.01 earnings per share for the current year.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in shares of Mobileye Global by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after purchasing an additional 3,019 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global during the 1st quarter worth $27,000. KLP Kapitalforvaltning AS purchased a new position in shares of Mobileye Global in the 2nd quarter worth $372,000. Slow Capital Inc. boosted its holdings in Mobileye Global by 4.4% in the second quarter. Slow Capital Inc. now owns 234,565 shares of the company’s stock valued at $4,217,000 after acquiring an additional 9,912 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its position in Mobileye Global by 6.3% during the second quarter. Sanders Morris Harris LLC now owns 42,500 shares of the company’s stock valued at $764,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors 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.