Brokerages Set Mobileiron Inc (NASDAQ:MOBL) PT at $9.33

Share on StockTwits

Mobileiron Inc (NASDAQ:MOBL) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.81.

A number of brokerages have issued reports on MOBL. ValuEngine downgraded Mobileiron from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on Mobileiron from $5.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Craig Hallum began coverage on Mobileiron in a report on Wednesday, July 24th. They issued a “buy” rating and a $11.00 price target for the company. Northland Securities reissued a “buy” rating and issued a $9.00 price target on shares of Mobileiron in a report on Friday, August 2nd. Finally, Zacks Investment Research raised Mobileiron from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Friday.

In other news, major shareholder Ventures Fund Lp Storm III sold 1,300,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $6.74, for a total transaction of $8,762,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tae Hea Nahm sold 274,427 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $6.76, for a total value of $1,855,126.52. Following the transaction, the director now directly owns 158,781 shares of the company’s stock, valued at $1,073,359.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,133,327 shares of company stock valued at $14,395,291. Corporate insiders own 13.48% of the company’s stock.

Several hedge funds have recently made changes to their positions in MOBL. BlackRock Inc. raised its stake in Mobileiron by 23.6% in the 2nd quarter. BlackRock Inc. now owns 6,495,198 shares of the software maker’s stock valued at $40,270,000 after purchasing an additional 1,239,866 shares during the last quarter. Vanguard Group Inc. raised its stake in Mobileiron by 10.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,846,681 shares of the software maker’s stock valued at $36,249,000 after purchasing an additional 552,694 shares during the last quarter. Renaissance Technologies LLC raised its stake in Mobileiron by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,442,940 shares of the software maker’s stock valued at $21,346,000 after purchasing an additional 687,700 shares during the last quarter. Cowen Prime Services LLC raised its stake in Mobileiron by 3.1% in the 2nd quarter. Cowen Prime Services LLC now owns 1,814,600 shares of the software maker’s stock valued at $11,251,000 after purchasing an additional 55,200 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Mobileiron by 271.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,288,377 shares of the software maker’s stock valued at $7,988,000 after purchasing an additional 941,078 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:MOBL opened at $6.18 on Wednesday. Mobileiron has a 12-month low of $3.98 and a 12-month high of $7.79. The business has a 50 day moving average of $6.84 and a two-hundred day moving average of $6.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.31 and a quick ratio of 1.31.

Mobileiron (NASDAQ:MOBL) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.10. Mobileiron had a negative return on equity of 89.20% and a negative net margin of 23.43%. The company had revenue of $50.87 million during the quarter, compared to the consensus estimate of $50.66 million. During the same period in the previous year, the company posted ($0.04) earnings per share. Mobileiron’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Mobileiron will post -0.32 earnings per share for the current year.

Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides 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 worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

See Also: Technical Analysis

Receive News & Ratings for Mobileiron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mobileiron and related companies with MarketBeat.com's FREE daily email newsletter.