iPass Inc. (IPAS) Given Consensus Recommendation of “Buy” by Brokerages

Shares of iPass Inc. (NASDAQ:IPAS) have received a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.10.

IPAS has been the subject of several analyst reports. Zacks Investment Research upgraded shares of iPass from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Maxim Group set a $2.00 target price on shares of iPass and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Roth Capital initiated coverage on shares of iPass in a research note on Wednesday, January 17th. They issued a “buy” rating and a $2.00 target price for the company.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in shares of iPass by 2.4% in the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after purchasing an additional 3,058 shares during the period. Royce & Associates LP lifted its stake in shares of iPass by 14.3% in the 3rd quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock valued at $626,000 after purchasing an additional 118,500 shares during the period. Finally, Pratt Collard Advisory Partners LLC acquired a new position in shares of iPass in the 4th quarter valued at $940,000. Hedge funds and other institutional investors own 17.91% of the company’s stock.

Shares of IPAS stock traded down $0.01 during trading hours on Friday, hitting $0.35. The company’s stock had a trading volume of 288,151 shares, compared to its average volume of 480,733. The company has a market capitalization of $25.32, a P/E ratio of -1.13 and a beta of 0.02. iPass has a 12-month low of $0.28 and a 12-month high of $1.51.

iPass (NASDAQ:IPAS) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $13.24 million for the quarter, compared to the consensus estimate of $12.90 million. iPass had a negative net margin of 37.78% and a negative return on equity of 282.05%. equities analysts forecast that iPass will post -0.05 earnings per share for the current year.

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About iPass

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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