Mobileye Global (NASDAQ:MBLY) Lowered to Underweight at Morgan Stanley

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $25.00 price objective on the stock, down from their prior price objective of $26.00. Morgan Stanley’s price target would indicate a potential downside of 14.38% from the company’s current price.

Several other research firms also recently issued reports on MBLY. JPMorgan Chase & Co. lifted their price target on shares of Mobileye Global from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler began coverage on shares of Mobileye Global in a report on Friday, March 15th. They set a “neutral” rating and a $31.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Mobileye Global from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Needham & Company LLC decreased their price objective on shares of Mobileye Global from $43.00 to $36.00 and set a “buy” rating for the company in a report on Friday, January 5th. Finally, Raymond James decreased their price objective on shares of Mobileye Global from $48.00 to $40.00 in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.70.

Mobileye Global Price Performance

Mobileye Global stock opened at $29.20 on Friday. Mobileye Global has a 12-month low of $23.49 and a 12-month high of $47.41. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of -139.05, a price-to-earnings-growth ratio of 13.57 and a beta of -0.21. The firm’s fifty day moving average price is $29.23 and its 200 day moving average price is $33.36.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $637.53 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts forecast that Mobileye Global will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Patrick P. Gelsinger bought 3,600 shares of the stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $27.75 per share, with a total value of $99,900.00. Following the completion of the acquisition, the director now owns 129,095 shares of the company’s stock, valued at $3,582,386.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its holdings in Mobileye Global by 33.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company’s stock worth $50,000 after buying an additional 300 shares in the last quarter. Wealth Management Partners LLC grew its holdings in Mobileye Global by 3.1% in the 3rd quarter. Wealth Management Partners LLC now owns 11,723 shares of the company’s stock worth $487,000 after buying an additional 350 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in Mobileye Global by 2.8% in the 4th quarter. Capital Investment Advisory Services LLC now owns 14,700 shares of the company’s stock worth $637,000 after buying an additional 400 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in Mobileye Global by 2.6% in the 1st quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock worth $630,000 after buying an additional 500 shares in the last quarter. Finally, CWM LLC bought a new position in Mobileye Global in the 3rd quarter worth approximately $25,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.