UBS Group Lowers Mobileye Global (NASDAQ:MBLY) Price Target to $9.00

Mobileye Global (NASDAQ:MBLY) had its price target dropped by stock analysts at UBS Group from $10.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 11.80% from the company’s current price.

A number of other equities research analysts have also recently weighed in on MBLY. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Mobileye Global in a report on Friday. TD Cowen lowered their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a report on Friday. Canaccord Genuity Group dropped their price target on Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. The Goldman Sachs Group boosted their price target on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Piper Sandler upgraded Mobileye Global from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $12.00 in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.95.

Mobileye Global Stock Performance

MBLY opened at $8.05 on Friday. Mobileye Global has a 12-month low of $6.47 and a 12-month high of $15.81. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -1.61 and a beta of 1.16. The stock has a fifty day simple moving average of $9.36 and a two-hundred day simple moving average of $8.99.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, analysts predict that Mobileye Global will post -0.09 EPS for the current year.

Mobileye Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Mobileye Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its stake in Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after purchasing an additional 1,090 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Mobileye Global by 6.3% in the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock worth $266,000 after purchasing an additional 1,110 shares in the last quarter. Greenfield Seitz Capital Management LLC raised its stake in shares of Mobileye Global by 5.5% in the fourth quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock worth $281,000 after purchasing an additional 1,393 shares during the last quarter. IFP Advisors Inc raised its stake in shares of 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 purchasing an additional 1,495 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Mobileye Global by 10.2% during the second quarter. Creative Planning now owns 18,316 shares of the company’s stock valued at $329,000 after purchasing an additional 1,693 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

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.