Mobileye NV (MBLY) is Downgraded by Goldman to Neutral

Mobileye NV (MBLY) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Mobileye NV. Berenberg Initiated Mobileye NV on Jun 17, 2016 to “Buy”, Price Target of the shares are set at $51.Piper Jaffray Initiated Mobileye NV on Jun 10, 2016 to “Overweight”, Price Target of the shares are set at $50.

On the company’s financial health, Mobileye NV reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.14. The company had revenue of $75.20 million for the quarter, compared to analysts expectations of $73.20 million. The company’s revenue was up 64.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Mobileye NV closed down -1.91 points or -4.58% at $39.79 with 39,85,105 shares getting traded on Monday. Post opening the session at $40.93, the shares hit an intraday low of $38.89 and an intraday high of $40.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Mobileye NV

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