JPMorgan Chase & Co. Issues Pessimistic Forecast for Mobileye Global (NASDAQ:MBLY) Stock Price

Mobileye Global (NASDAQ:MBLY) had its price target reduced by analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 15.97% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Mobileye Global in a report on Wednesday, March 26th. Barclays reissued an “equal weight” rating and issued a $14.00 target price (down from $22.00) on shares of Mobileye Global in a report on Tuesday. Oppenheimer began coverage on shares of Mobileye Global in a research note on Wednesday, January 15th. They set an “outperform” rating and a $28.00 price target on the stock. UBS Group dropped their price objective on shares of Mobileye Global from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Mobileye Global from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Hold” and a consensus target price of $20.55.

Mobileye Global Price Performance

MBLY stock opened at $11.90 on Thursday. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $33.26. The business has a 50 day simple moving average of $15.02 and a two-hundred day simple moving average of $15.84. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of -3.12, a PEG ratio of 69.54 and a beta of 0.39.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Sell-side analysts anticipate that Mobileye Global will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBLY. Parkside Financial Bank & Trust increased its position in shares of Mobileye Global by 147.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock worth $25,000 after acquiring an additional 737 shares during the period. Versant Capital Management Inc increased its holdings in Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock worth $26,000 after purchasing an additional 1,131 shares during the period. Rhumbline Advisers bought a new stake in Mobileye Global during the 1st quarter valued at $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Mobileye Global in the 4th quarter worth $30,000. Finally, Global Retirement Partners LLC grew its position in shares of Mobileye Global by 136.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,613 shares of the company’s stock worth $32,000 after buying an additional 932 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

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.