Mobileye was Downgraded to a Hold Rating at Robert W. Baird

By Ryan Adsit

Robert W. Baird analyst David Leiker downgraded Mobileye (NYSE: MBLY) to Hold today and set a price target of $64. The company’s shares closed yesterday at $61.87.

According to TipRanks.com, Leiker is a 5-star analyst with an average return of 16.0% and a 78.8% success rate. Leiker covers the Consumer Goods sector, focusing on stocks such as Strattec Security Corp, Harman International, and Tenneco Automotive.

Mobileye has an analyst consensus of Hold, with a price target consensus of $59.07.

Based on Mobileye’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $105 million and quarterly net profit of $32.6 million. In comparison, last year the company earned revenue of $75.21 million and had a net profit of $21.92 million.

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Mobileye NV engages in the designing and development of software and related technologies for camera-based advanced driver assistance systems. It operates through the following business segments: Original Equipment Manufacturing and After Market. The Original Equipment Manufacturing segment supplies systems on Chip, which includes core intelligence to be ultimately implemented within new vehicles through Tier 1 manufacturers who are system integrators to the automotive industry. The After Market segment engages in selling complete system, which offers advanced driver assistance functions to customers being primarily fleet commercial vehicles, fleet management system providers, new vehicle dealers and importers either directly, through distributors or through insurance companies. The company was founded by Ziv Aviram and Amnon Shashua in 1999 and is headquartered in Jerusalem, Israel.