Imperial Capital downgraded shares of MobileIron, Inc. (NASDAQ:MOBL) from an outperform rating to an in-line rating in a report issued on Wednesday, October 18th, Marketbeat reports. Imperial Capital currently has $4.00 price objective on the software maker’s stock, down from their previous price objective 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.
Several other research firms also recently issued reports on MOBL. Barclays PLC restated a sell rating and issued a $5.00 price target on shares of MobileIron in a research note on Wednesday, July 19th. Northland Securities restated a buy rating and issued a $7.00 price target on shares of MobileIron in a research note on Friday, July 14th. BidaskClub cut MobileIron from a strong-buy rating to a buy rating in a report on Friday, July 28th. ValuEngine cut MobileIron from a hold rating to a sell rating in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of MobileIron in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. MobileIron presently has a consensus rating of Hold and an average target price of $5.08.
MobileIron (MOBL) remained flat at $3.50 during trading on Wednesday. 663,844 shares of the stock were exchanged. The firm’s market cap is $261.27 million. The company’s 50 day moving average price is $3.75 and its 200-day moving average price is $4.74. MobileIron has a one year low of $3.20 and a one year high of $6.78.
MobileIron (NASDAQ:MOBL) last issued its earnings results on Thursday, July 27th. The software maker reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ 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 firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) EPS. Equities analysts predict that MobileIron will post ($0.24) earnings per share for the current year.
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In other news, VP Daniel C. Fields sold 52,383 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 423,037 shares of the company’s stock, valued at $1,594,849.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daniel C. Fields sold 15,600 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $3.75, for a total value of $58,500.00. Following the sale, the vice president now directly owns 423,037 shares of the company’s stock, valued at $1,586,388.75. The disclosure for this sale can be found here. 31.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MOBL. ETF Managers Group LLC bought a new position in shares of MobileIron in the second quarter worth $19,387,000. Renaissance Technologies LLC boosted its holdings in shares of MobileIron by 143.7% in the second quarter. Renaissance Technologies LLC now owns 2,741,600 shares of the software maker’s stock worth $16,587,000 after acquiring an additional 1,616,600 shares during the period. FMR LLC boosted its holdings in shares of MobileIron by 973.7% in the second quarter. FMR LLC now owns 1,347,500 shares of the software maker’s stock worth $8,152,000 after acquiring an additional 1,222,000 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of MobileIron in the second quarter worth $3,532,000. Finally, Vanguard Group Inc. boosted its holdings in shares of MobileIron by 13.0% in the second quarter. Vanguard Group Inc. now owns 2,968,465 shares of the software maker’s stock worth $17,960,000 after acquiring an additional 340,924 shares during the period. 54.86% of the stock is owned by institutional investors and hedge funds.
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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