Mobileye Global (NASDAQ:MBLY) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Mobileye Global (NASDAQ:MBLY) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on MBLY. The Goldman Sachs Group dropped their target price on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Royal Bank Of Canada lowered their price objective on shares of Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, January 23rd. 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 report on Friday, October 24th. Canaccord Genuity Group reduced their target price on Mobileye Global from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Finally, Tigress Financial boosted their price target on Mobileye Global from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mobileye Global presently has an average rating of “Hold” and a consensus price target of $15.89.

Mobileye Global Trading Down 2.5%

Shares of MBLY opened at $9.27 on Tuesday. Mobileye Global has a 12 month low of $9.10 and a 12 month high of $20.18. The stock has a fifty day moving average price of $10.89 and a 200-day moving average price of $12.98. The firm has a market cap of $7.54 billion, a PE ratio of -18.92 and a beta of 0.57.

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

Hedge Funds Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of MBLY. IFP Advisors Inc grew its holdings in 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 acquiring an additional 1,495 shares during the period. Rhumbline Advisers purchased a new stake in Mobileye Global in the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global during the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. purchased a new position in shares of Mobileye Global during the 4th quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Mobileye Global by 8,500.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after purchasing an additional 3,145 shares during the period. 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.