Imperial Capital Downgrades MobileIron, Inc. (MOBL) to In-Line
Imperial Capital lowered shares of MobileIron, Inc. (NASDAQ:MOBL) from an outperform rating to an in-line rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $4.00 target price on the software maker’s stock, down from their prior target price of $5.50. Imperial Capital also issued estimates for MobileIron’s Q3 2017 earnings at ($0.16) EPS, Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.63) EPS and FY2018 earnings at ($0.54) EPS.
Other analysts also recently issued reports about the company. Northland Securities restated a buy rating and set a $7.00 target price on shares of MobileIron in a research note on Friday, July 14th. ValuEngine downgraded MobileIron from a hold rating to a sell rating in a research note on Friday, September 1st. BidaskClub downgraded MobileIron from a buy rating to a hold rating in a research note on Tuesday, August 8th. Raymond James Financial, Inc. restated a market perform rating on shares of MobileIron in a research note on Wednesday. Finally, UBS AG downgraded MobileIron from an outperform rating to a market perform rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $5.08.
MobileIron (NASDAQ MOBL) traded up 8.70% on Wednesday, hitting $3.75. The stock had a trading volume of 1,462,196 shares. MobileIron has a one year low of $3.20 and a one year high of $6.78. The stock’s market cap is $353.01 million. The company’s 50-day moving average is $3.77 and its 200-day moving average is $4.75.
MobileIron (NASDAQ:MOBL) last announced its earnings results on Thursday, July 27th. The software maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. The company had revenue of $42.65 million during the quarter, compared to the consensus estimate of $43.44 million. MobileIron had a negative return on equity of 136.81% and a negative net margin of 32.67%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share. On average, analysts anticipate that MobileIron will post ($0.24) earnings per share for the current fiscal year.
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In related news, VP Daniel C. Fields sold 15,600 shares of MobileIron stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $3.75, for a total value of $58,500.00. Following the completion of the transaction, the vice president now directly owns 423,037 shares in the company, valued at $1,586,388.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel C. Fields sold 52,383 shares of MobileIron stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $3.77, for a total value of $197,483.91. Following the completion of the transaction, the vice president now owns 423,037 shares of the company’s stock, valued at $1,594,849.49. The disclosure for this sale can be found here. 31.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. grew its stake in MobileIron by 4.8% in the second quarter. Prudential Financial Inc. now owns 26,090 shares of the software maker’s stock worth $158,000 after purchasing an additional 1,200 shares in the last quarter. American International Group Inc. grew its stake in MobileIron by 7.1% in the first quarter. American International Group Inc. now owns 28,640 shares of the software maker’s stock worth $125,000 after purchasing an additional 1,904 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in MobileIron in the second quarter worth about $185,000. UBS Asset Management Americas Inc. acquired a new position in MobileIron in the first quarter worth about $136,000. Finally, Voya Investment Management LLC grew its stake in MobileIron by 16.0% in the second quarter. Voya Investment Management LLC now owns 31,203 shares of the software maker’s stock worth $189,000 after purchasing an additional 4,315 shares in the last quarter. Institutional investors and hedge funds own 54.87% 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.
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