MobileIron (MOBL) Rating Lowered to Hold at Zacks Investment Research

MobileIron (NASDAQ:MOBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

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Several other research firms also recently issued reports on MOBL. BidaskClub upgraded shares of MobileIron from a “hold” rating to a “buy” rating in a research note on Saturday, March 24th. Northland Securities set a $7.00 price objective on shares of MobileIron and gave the stock a “buy” rating in a research note on Friday, February 9th. Roth Capital started coverage on shares of MobileIron in a research note on Wednesday, January 17th. They set a “buy” rating and a $7.00 price objective for the company. ValuEngine upgraded shares of MobileIron from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Imperial Capital upgraded shares of MobileIron from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $5.75 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. MobileIron presently has a consensus rating of “Hold” and a consensus target price of $6.21.

MobileIron stock opened at $5.00 on Tuesday. MobileIron has a 1 year low of $3.20 and a 1 year high of $6.78. The company has a market capitalization of $492.75, a P/E ratio of -8.77 and a beta of 2.33.

MobileIron (NASDAQ:MOBL) last released its earnings results on Thursday, February 8th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. MobileIron had a negative net margin of 31.90% and a negative return on equity of 181.27%. The firm had revenue of $48.83 million during the quarter, compared to the consensus estimate of $46.47 million. equities analysts anticipate that MobileIron will post -0.41 EPS for the current year.

In other MobileIron news, VP Daniel C. Fields sold 71,875 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $5.14, for a total transaction of $369,437.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaref Hilaly sold 7,566 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $5.10, for a total transaction of $38,586.60. Following the sale, the director now owns 100,534 shares of the company’s stock, valued at $512,723.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,761 shares of company stock valued at $776,446. 31.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in MOBL. Russell Investments Group Ltd. boosted its stake in shares of MobileIron by 149.2% in the third quarter. Russell Investments Group Ltd. now owns 164,534 shares of the software maker’s stock valued at $609,000 after purchasing an additional 98,500 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MobileIron by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 286,095 shares of the software maker’s stock valued at $1,015,000 after purchasing an additional 107,581 shares during the period. Wells Fargo & Company MN boosted its stake in shares of MobileIron by 159.5% in the third quarter. Wells Fargo & Company MN now owns 144,001 shares of the software maker’s stock valued at $533,000 after purchasing an additional 88,516 shares during the period. OxFORD Asset Management LLP boosted its stake in shares of MobileIron by 80.7% in the third quarter. OxFORD Asset Management LLP now owns 145,853 shares of the software maker’s stock valued at $540,000 after purchasing an additional 65,138 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of MobileIron by 23.6% in the third quarter. Allianz Asset Management GmbH now owns 475,329 shares of the software maker’s stock valued at $1,759,000 after purchasing an additional 90,907 shares during the period. Institutional investors and hedge funds own 46.24% of the company’s stock.

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About MobileIron

MobileIron, Inc provides a purpose-built 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 in the United States and internationally. The company offers MobileIron platform, a government-grade security platform, which combines cloud security, unified endpoint management, secure connectivity, and threat intelligence into an integrated solution designed to protect business data in order to deliver enterprise services to users.

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