Arete Research Downgrades Mobileye Global (NASDAQ:MBLY) to Neutral

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at Arete Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat Ratings reports. They presently have a $15.70 price objective on the stock. Arete Research’s price objective points to a potential upside of 65.09% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Mizuho dropped their price objective on Mobileye Global from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Morgan Stanley dropped their price target on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group reduced their price target on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Piper Sandler lowered their price objective on shares of Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, HSBC cut shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Mobileye Global currently has a consensus rating of “Hold” and an average target price of $15.89.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $9.51 on Tuesday. The firm’s 50 day moving average price is $10.92 and its 200-day moving average price is $13.01. Mobileye Global has a 52-week low of $9.51 and a 52-week high of $20.18. The company has a market cap of $7.74 billion, a PE ratio of -19.41, a P/E/G ratio of 4.50 and a beta of 0.57.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. During the same period in the previous year, the business earned $0.13 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. 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 have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global during the 2nd quarter valued at $31,000. IFP Advisors Inc grew its holdings in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after purchasing an additional 1,495 shares during the period. Rhumbline Advisers purchased a new stake in Mobileye Global in the first quarter worth about $27,000. Financial Management Professionals Inc. bought a new position in shares of Mobileye Global in the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Mobileye Global by 8,500.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after buying an additional 3,145 shares in the last quarter. 13.25% of the stock is currently 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.