Mobileye Global (NASDAQ:MBLY) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research cut shares of Mobileye Global (NASDAQ:MBLY) from an outperform rating to a peer perform rating in a report issued on Monday, MarketBeat.com reports.

A number of other brokerages have also issued reports on MBLY. Zacks Research lowered shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. TD Cowen reduced their price target on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. raised shares of Mobileye Global from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $13.00 in a research report on Tuesday, January 6th. Mizuho dropped their price objective on shares of Mobileye Global from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Evercore ISI reduced their target price on shares of Mobileye Global from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.11.

Mobileye Global Stock Performance

Shares of MBLY stock opened at $11.44 on Monday. The stock’s 50-day moving average is $11.38 and its two-hundred day moving average is $13.62. Mobileye Global has a 1 year low of $10.04 and a 1 year high of $20.18. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of -27.24, a PEG ratio of 2.95 and a beta of 0.57.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Intel Corp purchased a new stake in Mobileye Global in the 3rd quarter valued at approximately $706,000,000. Burkehill Global Management LP purchased a new position in shares of Mobileye Global during the 3rd quarter worth approximately $42,360,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Mobileye Global during the 3rd quarter worth approximately $40,670,000. DNB Asset Management AS acquired a new stake in shares of Mobileye Global in the 3rd quarter valued at approximately $40,212,000. Finally, Two Sigma Investments LP boosted its stake in shares of Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after buying an additional 2,493,181 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.