Mobileye Global (NASDAQ:MBLY) Price Target Lowered to $25.00 at Needham & Company LLC

Mobileye Global (NASDAQ:MBLY) had its price objective cut by equities research analysts at Needham & Company LLC from $36.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 53.56% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Citigroup lowered their target price on Mobileye Global from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Westpark Capital reiterated a “hold” rating on shares of Mobileye Global in a research note on Wednesday. Fox Advisors cut shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday. HSBC began coverage on shares of Mobileye Global in a research report on Monday, July 15th. They issued a “buy” rating and a $33.00 price target for the company. Finally, The Goldman Sachs Group decreased their price objective on shares of Mobileye Global from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mobileye Global presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Mobileye Global Stock Down 22.5 %

Shares of NASDAQ:MBLY opened at $16.28 on Friday. The stock has a market capitalization of $13.13 billion, a PE ratio of -77.52, a price-to-earnings-growth ratio of 38.38 and a beta of 0.14. The firm’s 50 day moving average price is $26.11 and its 200-day moving average price is $27.73. Mobileye Global has a twelve month low of $15.21 and a twelve month high of $44.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MBLY. Norges Bank purchased a new position in shares of Mobileye Global in the 4th quarter worth $437,842,000. Baillie Gifford & Co. lifted its holdings in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after acquiring an additional 7,560,929 shares during the last quarter. Kodai Capital Management LP purchased a new position in Mobileye Global in the fourth quarter worth about $148,924,000. Wellington Management Group LLP increased its stake in Mobileye Global by 200.3% during the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Mobileye Global in the 1st quarter valued at approximately $69,638,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

About Mobileye Global

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.