Equities research analysts expect iPass Inc. (NASDAQ:IPAS) to announce sales of $11.87 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for iPass’ earnings. The highest sales estimate is $12.14 million and the lowest is $11.60 million. iPass posted sales of $13.40 million in the same quarter last year, which suggests a negative year-over-year growth rate of 11.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that iPass will report full year sales of $49.06 million for the current fiscal year, with estimates ranging from $46.50 million to $53.00 million. For the next financial year, analysts forecast that the firm will post sales of $60.35 million, with estimates ranging from $56.34 million to $64.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for iPass.
iPass (NASDAQ:IPAS) last released its earnings results on Wednesday, August 8th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.20). iPass had a negative net margin of 40.13% and a negative return on equity of 130,046.80%. The business had revenue of $10.54 million for the quarter, compared to analyst estimates of $12.90 million.
A number of analysts recently weighed in on IPAS shares. ValuEngine upgraded shares of iPass from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Maxim Group set a $10.00 price target on shares of iPass and gave the company a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of iPass from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Dawson James started coverage on shares of iPass in a research report on Tuesday, September 4th. They issued a “buy” rating and a $3.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $11.00.
Several large investors have recently made changes to their positions in IPAS. Pratt Collard Advisory Partners LLC increased its stake in iPass by 8.2% during the 2nd quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock worth $617,000 after purchasing an additional 135,600 shares in the last quarter. Renaissance Technologies LLC increased its stake in iPass by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock worth $1,225,000 after purchasing an additional 262,210 shares in the last quarter. Manatuck Hill Partners LLC increased its stake in iPass by 133.3% during the 2nd quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock worth $362,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Perkins Capital Management Inc. bought a new stake in iPass during the 2nd quarter worth approximately $566,000.
iPass stock traded down $0.05 during trading hours on Monday, reaching $1.52. 100 shares of the company’s stock traded hands, compared to its average volume of 84,327. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of -3.08. iPass has a fifty-two week low of $1.55 and a fifty-two week high of $7.40. The company has a market cap of $17.13 million, a PE ratio of -0.48 and a beta of -0.26.
iPass Company Profile
iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.
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