Mobileiron (MOBL) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a strong-buy rating in a report issued on Wednesday. The brokerage currently has $5.50 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. “

Several other equities research analysts have also recently weighed in on the company. BidaskClub cut Mobileiron from a buy rating to a hold rating in a research note on Wednesday, August 22nd. ValuEngine raised Mobileiron from a hold rating to a buy rating in a research note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $6.31.

MOBL stock traded up $0.02 during midday trading on Wednesday, hitting $5.02. The stock had a trading volume of 352,148 shares, compared to its average volume of 282,542. The stock has a market cap of $529.89 million, a price-to-earnings ratio of -8.81 and a beta of 2.12. Mobileiron has a 52-week low of $3.70 and a 52-week high of $5.71.

Mobileiron (NASDAQ:MOBL) last issued its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The company had revenue of $49.25 million for the quarter, compared to analysts’ expectations of $48.42 million. Mobileiron had a negative return on equity of 89.47% and a negative net margin of 23.27%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, equities research analysts predict that Mobileiron will post -0.4 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOBL. Bank of Montreal Can grew its stake in shares of Mobileiron by 4,954.2% in the third quarter. Bank of Montreal Can now owns 25,473 shares of the software maker’s stock worth $135,000 after acquiring an additional 24,969 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mobileiron in the first quarter worth $142,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Mobileiron in the first quarter worth $148,000. Rhumbline Advisers grew its stake in shares of Mobileiron by 40.2% in the second quarter. Rhumbline Advisers now owns 66,625 shares of the software maker’s stock worth $296,000 after acquiring an additional 19,100 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Mobileiron by 19.3% in the third quarter. Swiss National Bank now owns 96,500 shares of the software maker’s stock worth $511,000 after acquiring an additional 15,600 shares during the last quarter. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

Mobileiron Company Profile

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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