Mobileye Global Inc. (MBLY) shares plummeted 5.04% in Friday's trading session, despite the company reporting Q3 growth and raising its outlook. The sharp decline comes as several analysts cut their price targets for the stock, signaling concerns about the company's future performance.

Mobileye's Q3 earnings release showed growth and an improved outlook, which would typically be positive news for investors. However, the market seems to be more focused on the series of analyst downgrades. Piper Sandler reduced its target price from $17 to $15, while Mizuho lowered its target from $17 to $15, maintaining a Neutral rating. TD Cowen also cut its price target to $16 from $18, although it kept a Buy rating on the shares.

The most bearish view came from J.P. Morgan analyst Samik Chatterjee, who reiterated a Sell rating on Mobileye Global, Inc. Class A with a price target of $12.00. Chatterjee cited challenges and potential market share loss as reasons for the negative outlook. This combination of lowered price targets and a prominent Sell rating appears to have overshadowed the company's positive Q3 results, leading to the significant stock price decline.