MobileIron (MOBL) Upgraded to Buy by Zacks Investment Research

MobileIron (NASDAQ:MOBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $5.50 price target on the software maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.11% from the stock’s previous close.

According to Zacks, “MobileIron, Inc. is engaged in providing security and management solutions for mobile applications, content, and devices. The Company provides software tools for device management, activity intelligence, and security. MobileIron offers multi-OS mobile device management software, mobile application management, Wireless Expense Management, Enterprise Mobility, Mobile Device Security and Bring-Your-Own-Device privacy controls, MobileIron Virtual Smartphone Platform. It serves financial services, government, healthcare, legal, manufacturing, professional services, retail, technology, and telecommunications industries in the United States and internationally. MobileIron, Inc. is headquartered in Mountain View, California. “

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Other equities research analysts have also issued reports about the company. BidaskClub raised MobileIron from a “hold” rating to a “buy” rating in a research report on Saturday, March 24th. Northland Securities set a $7.00 target price on MobileIron and gave the stock a “buy” rating in a research report on Friday, February 9th. Roth Capital initiated coverage on MobileIron in a research report on Wednesday, January 17th. They issued a “buy” rating and a $7.00 target price on the stock. ValuEngine raised MobileIron from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Imperial Capital raised MobileIron from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $4.00 to $5.75 in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.21.

Shares of NASDAQ MOBL opened at $4.95 on Thursday. MobileIron has a 1-year low of $3.20 and a 1-year high of $6.78. The firm has a market capitalization of $492.75, a price-to-earnings ratio of -8.68 and a beta of 2.33.

MobileIron (NASDAQ:MOBL) last issued its earnings results on Thursday, February 8th. The software maker reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. MobileIron had a negative return on equity of 181.27% and a negative net margin of 31.90%. The firm had revenue of $48.83 million for the quarter, compared to analyst estimates of $46.47 million. equities analysts anticipate that MobileIron will post -0.41 EPS for the current fiscal year.

In other news, VP Daniel C. Fields sold 71,875 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.14, for a total transaction of $369,437.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Aaref Hilaly sold 10,269 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $4.81, for a total value of $49,393.89. The disclosure for this sale can be found here. Insiders have sold 154,761 shares of company stock worth $776,446 over the last three months. Corporate insiders own 31.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MOBL. SG Americas Securities LLC acquired a new position in shares of MobileIron during the fourth quarter valued at $135,000. Slow Capital Inc. acquired a new position in shares of MobileIron during the fourth quarter valued at $140,000. Jane Street Group LLC acquired a new position in shares of MobileIron during the third quarter valued at $162,000. Engine Capital Management LLC acquired a new position in shares of MobileIron during the fourth quarter valued at $395,000. Finally, Wells Fargo & Company MN increased its holdings in shares of MobileIron by 159.5% during the third quarter. Wells Fargo & Company MN now owns 144,001 shares of the software maker’s stock valued at $533,000 after purchasing an additional 88,516 shares during the period. 46.24% of the stock is currently owned by institutional investors.

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About MobileIron

MobileIron, Inc provides a purpose-built mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience in the United States and internationally. The company offers MobileIron platform, a government-grade security platform, which combines cloud security, unified endpoint management, secure connectivity, and threat intelligence into an integrated solution designed to protect business data in order to deliver enterprise services to users.

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