iPass Inc. (IPAS) Receives $2.28 Consensus Target Price from Brokerages
iPass Inc. (NASDAQ:IPAS) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2.28.
IPAS has been the topic of several recent research reports. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Maxim Group set a $2.00 price target on iPass and gave the company a “buy” rating in a research report on Thursday, August 3rd. ValuEngine cut iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Aegis dropped their price target on iPass from $2.75 to $1.40 and set a “buy” rating on the stock in a research report on Wednesday, September 13th.
In other iPass news, CEO Gary A. Griffiths bought 100,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $0.56 per share, for a total transaction of $56,000.00. Following the transaction, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at approximately $572,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC acquired a new position in iPass during the 2nd quarter worth approximately $228,000. Susquehanna International Group LLP acquired a new position in iPass during the 2nd quarter worth approximately $100,000. Northern Trust Corp increased its position in iPass by 2.4% during the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock worth $173,000 after purchasing an additional 3,058 shares during the period. Emancipation Management LLC acquired a new position in iPass during the 2nd quarter worth approximately $228,000. Finally, Royce & Associates LP increased its position in iPass by 29.7% during the 2nd quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock worth $1,096,000 after purchasing an additional 190,000 shares during the period. Institutional investors own 23.36% of the company’s stock.
iPass (IPAS) traded up 0.8815% during mid-day trading on Friday, reaching $0.6981. The company had a trading volume of 53,740 shares. The company’s market capitalization is $46.55 million. iPass has a 12 month low of $0.51 and a 12 month high of $1.89. The firm’s 50 day moving average price is $0.61 and its 200-day moving average price is $1.06.
iPass (NASDAQ:IPAS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). The company had revenue of $13.47 million during the quarter. iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. Equities research analysts anticipate that iPass will post ($0.24) earnings per share for the current year.
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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