Mobileye Global Inc. (MBLY) shares plummeted 5.04% during intraday trading on Friday, reflecting significant selling pressure on the stock.

The sharp decline appears to be driven by a series of analyst price target reductions from major financial institutions. Multiple firms have lowered their expectations for the company's stock price, signaling reduced optimism about its near-term prospects.

Analysts from Needham, Wells Fargo, Morgan Stanley, Piper Sandler, RBC, JP Morgan, and Canaccord all cut their price targets on Mobileye, with some citing cautious near-term guidance. These coordinated downward revisions have contributed to negative sentiment among investors during the trading session.