Intel Spinoff Mobileye Revenue Falls Amid Supply Chain Reset, CEO Optimistic About Recovery
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 25 2024
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Source: earning
- Financial Performance: Mobileye Global Inc reported a 48% revenue decline in the fiscal first quarter of 2024, with adjusted EPS missing consensus estimates.
- Product Revenue: EyeQ and SuperVision revenue dropped significantly compared to the previous year.
- Operating Metrics: The number of systems shipped by Mobileye decreased sharply, impacting key operating metrics.
- Outlook: The company reiterated its revenue outlook for FY24 despite the challenging financial results.
- Stock Performance: Mobileye Global stock has experienced a 31% decline in the last 12 months, with shares trading lower.
Analyst Views on LOUP
Wall Street analysts forecast LOUP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LOUP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 81.250
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Current: 81.250
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
