Zacks Investment Research upgraded shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a strong-buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $7.75 price target on the software maker’s stock.
According to Zacks, “MobileIron, Inc. is engaged in providing security and management solutions for mobile applications, content, and devices. The Company provides software tools for device management, activity intelligence, and security. MobileIron offers multi-OS mobile device management software, mobile application management, Wireless Expense Management, Enterprise Mobility, Mobile Device Security and Bring-Your-Own-Device privacy controls, MobileIron Virtual Smartphone Platform. It serves financial services, government, healthcare, legal, manufacturing, professional services, retail, technology, and telecommunications industries in the United States and internationally. MobileIron, Inc. is headquartered in Mountain View, California. “
Other research analysts have also recently issued research reports about the company. Craig Hallum began coverage on Mobileiron in a research note on Wednesday, July 24th. They issued a buy rating and a $11.00 price objective on the stock. Northland Securities reaffirmed a buy rating and set a $9.00 target price on shares of Mobileiron in a research report on Friday, August 2nd. Morgan Stanley increased their target price on Mobileiron from $5.00 to $8.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. BidaskClub raised Mobileiron from a hold rating to a buy rating in a research report on Tuesday, July 30th. Finally, ValuEngine upgraded Mobileiron from a buy rating to a strong-buy rating in a report on Saturday, May 4th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $8.94.
Shares of NASDAQ:MOBL opened at $6.80 on Tuesday. Mobileiron has a 52-week low of $3.98 and a 52-week high of $7.42. The stock has a market cap of $745.83 million, a P/E ratio of -16.19 and a beta of 1.70. The business’s 50 day moving average is $6.57 and its 200 day moving average is $5.69. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.29.
Mobileiron (NASDAQ:MOBL) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. Mobileiron had a negative return on equity of 89.20% and a negative net margin of 23.43%. The company had revenue of $50.87 million for the quarter, compared to analysts’ expectations of $50.66 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Mobileiron’s revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mobileiron will post -0.32 EPS for the current fiscal year.
In related news, CEO Simon Biddiscombe sold 45,089 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $6.25, for a total value of $281,806.25. Following the completion of the transaction, the chief executive officer now owns 1,371,601 shares in the company, valued at approximately $8,572,506.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ventures Fund Lp Storm III sold 1,300,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $6.74, for a total value of $8,762,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,230,912 shares of company stock valued at $15,007,297 in the last 90 days. 13.48% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC purchased a new stake in shares of Mobileiron during the 2nd quarter valued at approximately $4,572,000. UBS Asset Management Americas Inc. raised its position in shares of Mobileiron by 35.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 45,216 shares of the software maker’s stock valued at $280,000 after buying an additional 11,816 shares during the period. Morgan Stanley raised its position in shares of Mobileiron by 149.3% during the 2nd quarter. Morgan Stanley now owns 494,696 shares of the software maker’s stock valued at $3,068,000 after buying an additional 296,251 shares during the period. AQR Capital Management LLC raised its position in shares of Mobileiron by 10.0% during the 2nd quarter. AQR Capital Management LLC now owns 841,403 shares of the software maker’s stock valued at $5,217,000 after buying an additional 76,360 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Mobileiron by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,846,681 shares of the software maker’s stock valued at $36,249,000 after buying an additional 552,694 shares during the period. Institutional investors own 59.54% of the company’s stock.
Mobileiron Company Profile
MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.
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