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

Mobileye Global (NASDAQ:MBLY) had its price objective cut by analysts at Barclays from $16.00 to $14.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 103.78% from the stock’s current price.

MBLY has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on shares of Mobileye Global from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Morgan Stanley dropped their target price on Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Tigress Financial reiterated a “buy” rating and issued a $25.00 price target on shares of Mobileye Global in a report on Thursday, January 29th. HSBC raised Mobileye Global to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Canaccord Genuity Group dropped their price objective on Mobileye Global from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.79.

Mobileye Global Price Performance

Shares of Mobileye Global stock opened at $6.87 on Monday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of -14.02 and a beta of 0.59. The firm’s 50-day moving average is $8.53 and its two-hundred day moving average is $11.08. Mobileye Global has a 1 year low of $6.47 and a 1 year high of $20.18.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The business had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities analysts expect that Mobileye Global will post 0.01 earnings per share for the current year.

Institutional Trading of Mobileye Global

Several hedge funds and other institutional investors have recently made changes to their positions in MBLY. Northwestern Mutual Wealth Management Co. purchased a new position in Mobileye Global during the 2nd quarter worth $31,000. IFP Advisors Inc raised its stake in Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers purchased a new stake in Mobileye Global in the first quarter valued at about $27,000. Financial Management Professionals Inc. acquired a new stake in Mobileye Global in the fourth quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new stake in Mobileye Global in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.