Mobileye Global (NASDAQ:MBLY) Price Target Cut to $8.00 by Analysts at The Goldman Sachs Group

Mobileye Global (NASDAQ:MBLY) had its price target reduced by The Goldman Sachs Group from $12.00 to $8.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on MBLY. JPMorgan Chase & Co. upgraded Mobileye Global from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $13.00 in a report on Tuesday, January 6th. Piper Sandler lowered their target price on Mobileye Global from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobileye Global in a report on Wednesday, January 28th. Zacks Research upgraded Mobileye Global from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, UBS Group lowered their target price on Mobileye Global from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.10.

Mobileye Global Price Performance

Mobileye Global stock opened at $7.62 on Tuesday. The firm has a market cap of $6.41 billion, a P/E ratio of -15.55 and a beta of 0.75. The stock’s 50 day moving average is $8.07 and its 200 day moving average is $10.60. Mobileye Global has a one year low of $6.47 and a one year high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $446.00 million during the quarter, compared to the consensus estimate of $430.69 million. Mobileye Global had a positive return on equity of 0.21% and a negative net margin of 20.70%.The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. Equities analysts anticipate that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mobileye Global

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the period. Rhumbline Advisers acquired a new position in shares of Mobileye Global during the first quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global during the second quarter worth approximately $31,000. Financial Management Professionals Inc. acquired a new position in shares of Mobileye Global during the fourth quarter worth approximately $32,000. Finally, Leonteq Securities AG acquired a new position in shares of Mobileye Global during the fourth quarter worth approximately $33,000. 13.25% of the stock is owned by institutional investors and hedge funds.

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.