Tigress Financial Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its price target decreased by Tigress Financial from $25.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Tigress Financial’s price objective would indicate a potential upside of 126.70% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Berenberg Bank lowered shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target on the stock. in a report on Thursday, May 21st. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Mobileye Global in a research report on Friday, July 24th. JPMorgan Chase & Co. decreased their target price on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Jefferies Financial Group began coverage on shares of Mobileye Global in a research note on Monday, May 18th. They issued an “underperform” rating and a $8.00 price target for the company. Finally, Weiss Ratings upgraded Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $12.64.

Mobileye Global Price Performance

Mobileye Global stock opened at $7.94 on Thursday. Mobileye Global has a one year low of $6.47 and a one year high of $15.81. The firm has a market cap of $6.67 billion, a PE ratio of -1.59, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16. The stock’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $8.88.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Mobileye Global will post 0.11 earnings per share for the current fiscal year.

Mobileye Global declared that its board has approved a stock repurchase plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Mobileye Global

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global during the second quarter worth $31,000. IFP Advisors Inc grew its position in Mobileye Global by 465.7% in 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 in the last quarter. Rhumbline Advisers purchased a new position in shares of Mobileye Global in the 1st quarter worth about $27,000. Financial Management Professionals Inc. purchased a new position in shares of Mobileye Global during the fourth quarter worth approximately $32,000. Finally, Leonteq Securities AG bought a new stake in shares of Mobileye Global in the 4th quarter valued at about $33,000. 13.25% of the stock is currently 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.