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Shares of Mobileye Global Inc MBLY were climbing in early trading on Tuesday, after having lost around 68% year to date.
JERUSALEM--(BUSINESS WIRE)--Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today announced that it will release its financial results for the third quarter 2024 on Thursday, October 31, 2024, before market open. Mobileye will host a conference call at 8:00am ET (2:00pm IT) to review its results and provide a general business update. The call will be hosted by Professor Amnon Shashua, CEO, Moran Shemesh Rojansky, CFO, Nimrod Nehushtan, EVP – Business Development and Strategy, and Dan Galves, C.
Investors interested in Automotive - Original Equipment stocks are likely familiar with Valeo S.A. (VLEEY) and Mobileye Global (MBLY).
Four of 30 analysts are now bearish on the self-driving-technology stock, and the latest one sees about 20% further downside.
J.P. Morgan analyst Samik Chatterjee downgraded Mobileye stock to Sell from Hold. It's the third Wall Street downgrade of the self-driving-technology firm in the past week.
Mobileye (MBLY) hit its all-time low in September and faces more difficulties after getting a downgrade from BNP Paribas. George Tsilis says its link to Intel (INTC), along with increased competition from Tesla (TSLA) and Waymo, will stir up more headwinds.
A BNP Paribas Exane analyst downgraded the stock to Sell from Hold and lowered his price target to $12 from $14.
Mobileye's near-term opportunity is dominated by ADAS, which is benefitting from regulatory tailwinds. Longer term, more advanced self-driving capabilities should begin to driven growth, with potential for significantly higher ASPs. Despite near-term challenges in China, Mobileye remains optimistic about the prospects of its more advanced solutions moving into 2026/2027.
Investors interested in stocks from the Automotive - Original Equipment sector have probably already heard of Valeo S.A. (VLEEY) and Mobileye Global (MBLY).
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 100 500 points on Thursday.