Goldman Sachs Downgrades Mobileye NV to Neutral with Price Target $40.00

Brokerage firm Goldman Sachs Downgrades its rating on Mobileye NV(NYSE:MBLY). In a research note issued to the investors, the brokerage major Lowers the price-target to $40.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jun 28, 2016.

In a different note, Berenberg said it Initiates Coverage on Mobileye NV, according to a research note issued on Jun 17, 2016. The shares have been rated ‘Buy’ by the firm. Piper Jaffray said it Initiates Coverage on Mobileye NV, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Overweight’ by the firm.

Mobileye NV (MBLY) made into the market gainers list on Fridays trading session with the shares advancing 2.10% or 0.97 points. Due to strong positive momentum, the stock ended at $47.11, which is also near the day’s high of $47.48. The stock began the session at $45.52 and the volume stood at 77,68,917 shares. The 52-week high of the shares is $64.4799 and the 52 week low is $23.57. The company has a current market capitalization of $10,310 M and it has 21,88,47,430 shares in outstanding.

Mobileye NV(MBLY) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $75.21M. Analysts had an estimated revenue of $73.30M. Earnings per share were $0.15. Analysts had estimated an EPS of $0.14.

Mobileye NV designs and develops software and related technologies for camera-based advanced driver assistance systems (ADAS). The Company’s software algorithms and EyeQ system on a chip (SOC) perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles pedestrians cyclists animals debris and other obstacles. Its products are also able to detect roadway markings such as lanes road boundaries barriers and similar items as well as to identify and read traffic signs and traffic lights. It operates in two segments: the original equipment manufacturer segment and the AM segment. The OEM segment supplies the software algorithms and EyeQ chip that are the core technology of the complete ADAS to the Tier 1 companies that are the system integrators for the automotive industry. In the AM segment it sells a complete system which includes its software algorithms and EyeQ chip as well as the camera and other necessary components.

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