MobileIron (MOBL) Lowered to Hold at BidaskClub

BidaskClub lowered shares of MobileIron (NASDAQ:MOBL) from a buy rating to a hold rating in a research note released on Wednesday.

MOBL has been the topic of several other research reports. Roth Capital initiated coverage on MobileIron in a research report on Wednesday, January 17th. They set a buy rating and a $7.00 target price on the stock. Zacks Investment Research cut MobileIron from a buy rating to a hold rating in a research report on Tuesday, April 17th. Northland Securities set a $7.00 target price on MobileIron and gave the stock a buy rating in a research report on Friday, February 9th. Imperial Capital upgraded MobileIron from an in-line rating to an outperform rating and boosted their target price for the stock from $4.00 to $5.75 in a research report on Monday, February 12th. Finally, ValuEngine upgraded MobileIron from a sell rating to a hold rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $6.05.

Shares of MobileIron opened at $4.30 on Wednesday, MarketBeat.com reports. The stock has a market capitalization of $435.25 million, a P/E ratio of -7.54 and a beta of 2.33. MobileIron has a 52-week low of $3.20 and a 52-week high of $6.78.

MobileIron (NASDAQ:MOBL) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The firm had revenue of $48.83 million for the quarter, compared to analysts’ expectations of $46.47 million. MobileIron had a negative return on equity of 172.10% and a negative net margin of 33.64%. equities analysts expect that MobileIron will post -0.48 earnings per share for the current fiscal 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 stock was sold at an average price of $5.14, for a total transaction of $369,437.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $38,586.60. Following the transaction, the director now owns 100,534 shares in the company, valued at approximately $512,723.40. The disclosure for this sale can be found here. Insiders have sold a total of 156,274 shares of company stock worth $783,103 in the last quarter. 31.70% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of MobileIron by 29.6% during the 1st quarter. BlackRock Inc. now owns 3,750,102 shares of the software maker’s stock worth $18,562,000 after acquiring an additional 856,636 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in shares of MobileIron by 30.8% during the 4th quarter. Greenhouse Funds LLLP now owns 2,660,285 shares of the software maker’s stock worth $10,375,000 after acquiring an additional 626,516 shares in the last quarter. North Run Capital LP boosted its stake in shares of MobileIron by 53.7% during the 1st quarter. North Run Capital LP now owns 1,089,355 shares of the software maker’s stock worth $5,392,000 after acquiring an additional 380,610 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MobileIron by 78.3% during the 1st quarter. JPMorgan Chase & Co. now owns 678,378 shares of the software maker’s stock worth $3,358,000 after acquiring an additional 297,971 shares in the last quarter. Finally, Cowen Prime Services LLC purchased a new stake in shares of MobileIron during the 4th quarter worth approximately $2,511,000. 46.33% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for MobileIron (NASDAQ:MOBL)

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