Mobileiron Inc (NASDAQ:MOBL) Rating Lowered to Buy at BidaskClub

Mobileiron Inc (NASDAQ:MOBL) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday, July 28th.

A number of other research firms also recently issued reports on MOBL. Barclays PLC reiterated a “sell” rating and set a $5.00 target price on shares of Mobileiron in a research report on Wednesday, July 19th. Northland Securities restated a “buy” rating and set a $7.00 price objective on shares of Mobileiron in a report on Friday, July 14th. ValuEngine upgraded shares of Mobileiron from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Benchmark Co. assumed coverage on shares of Mobileiron in a report on Tuesday, April 25th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Mobileiron from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Mobileiron currently has a consensus rating of “Hold” and an average price target of $5.28.

Shares of Mobileiron (NASDAQ:MOBL) opened at 4.10 on Friday. The firm’s market capitalization is $306.06 million. The company’s 50 day moving average is $5.80 and its 200-day moving average is $5.01. Mobileiron has a one year low of $2.56 and a one year high of $6.78.

Mobileiron (NASDAQ:MOBL) last released its earnings results on Thursday, July 27th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.08. Mobileiron had a negative net margin of 43.48% and a negative return on equity of 206.47%. The company had revenue of $42.65 million for the quarter, compared to the consensus estimate of $43.44 million. During the same quarter in the previous year, the company earned ($0.14) EPS. Mobileiron’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Mobileiron will post ($0.19) EPS for the current year.

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In related news, Director Aaref Hilaly sold 15,133 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $5.10, for a total transaction of $77,178.30. Following the completion of the transaction, the director now owns 68,424 shares in the company, valued at $348,962.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Laurel Finch sold 4,676 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $6.33, for a total transaction of $29,599.08. Following the transaction, the vice president now owns 287,236 shares of the company’s stock, valued at approximately $1,818,203.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 569,259 shares of company stock valued at $2,930,122. 31.70% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in Mobileiron by 0.5% in the first quarter. Bank of America Corp DE now owns 62,960 shares of the software maker’s stock valued at $274,000 after buying an additional 311 shares during the last quarter. Prudential Financial Inc. raised its position in Mobileiron by 4.8% in the second quarter. Prudential Financial Inc. now owns 26,090 shares of the software maker’s stock valued at $158,000 after buying an additional 1,200 shares during the last quarter. American International Group Inc. raised its position in Mobileiron by 7.1% in the first quarter. American International Group Inc. now owns 28,640 shares of the software maker’s stock valued at $125,000 after buying an additional 1,904 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Mobileiron by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 68,375 shares of the software maker’s stock valued at $297,000 after buying an additional 2,533 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Mobileiron by 12.0% in the second quarter. Russell Investments Group Ltd. now owns 66,034 shares of the software maker’s stock valued at $399,000 after buying an additional 7,100 shares during the last quarter. Institutional investors own 49.59% of the company’s stock.

Mobileiron Company Profile

MobileIron, Inc (MobileIron) provides a mobile information technology (IT) platform for enterprises to manage and secure mobile applications, content and devices. The Company’s solution provides enterprise security. The MobileIron Platform combines security and enterprise mobility management (EMM) tools, including mobile device management (MDM), mobile application management (MAM), and mobile content management (MCM) capabilities.

Analyst Recommendations for Mobileiron (NASDAQ:MOBL)

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