Mobileye Global (NASDAQ:MBLY) Price Target Cut to $17.00 by Analysts at The Goldman Sachs Group

Mobileye Global (NASDAQ:MBLY) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $20.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 31.27% from the company’s previous close.

A number of other analysts have also weighed in on MBLY. Loop Capital raised their price objective on shares of Mobileye Global from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group raised their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Mobileye Global in a research note on Wednesday, March 26th. Finally, Barclays boosted their price target on Mobileye Global from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and a consensus target price of $21.95.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $12.95 on Thursday. The company has a 50 day simple moving average of $15.47 and a two-hundred day simple moving average of $15.90. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $33.26. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of -3.39, a P/E/G ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. On average, analysts forecast that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Mobileye Global by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company’s stock worth $283,101,000 after purchasing an additional 621,062 shares during the period. Norges Bank purchased a new stake in Mobileye Global in the fourth quarter worth about $95,937,000. Primecap Management Co. CA increased its position in Mobileye Global by 2.3% in the fourth quarter. Primecap Management Co. CA now owns 1,804,400 shares of the company’s stock worth $35,944,000 after buying an additional 40,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company’s stock worth $34,181,000 after buying an additional 45,756 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Mobileye Global by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,534,574 shares of the company’s stock valued at $30,569,000 after buying an additional 8,340 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.