Mobileiron Inc (MOBL) Receives $6.58 Consensus Target Price from Analysts

Mobileiron Inc (NASDAQ:MOBL) has received an average recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.58.

MOBL has been the topic of a number of recent analyst reports. BidaskClub raised Mobileiron from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. ValuEngine raised Mobileiron from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th. Finally, Zacks Investment Research raised Mobileiron from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th.

MOBL traded up $0.05 during midday trading on Thursday, hitting $5.00. 264,100 shares of the company were exchanged, compared to its average volume of 513,228. The company has a market capitalization of $500.66 million, a PE ratio of -8.61 and a beta of 2.29. Mobileiron has a 1-year low of $3.20 and a 1-year high of $5.30.

Mobileiron (NASDAQ:MOBL) last announced its earnings results on Tuesday, July 31st. The software maker reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $46.10 million for the quarter, compared to the consensus estimate of $45.40 million. Mobileiron had a negative return on equity of 131.24% and a negative net margin of 29.39%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. equities research analysts forecast that Mobileiron will post -0.5 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Mobileiron by 24.4% in the 2nd quarter. BlackRock Inc. now owns 4,665,416 shares of the software maker’s stock valued at $20,763,000 after purchasing an additional 915,314 shares during the period. Millennium Management LLC lifted its stake in shares of Mobileiron by 209.7% in the 1st quarter. Millennium Management LLC now owns 1,902,438 shares of the software maker’s stock valued at $9,417,000 after purchasing an additional 1,288,147 shares during the period. Legal & General Group Plc lifted its stake in shares of Mobileiron by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 1,602,873 shares of the software maker’s stock valued at $7,133,000 after purchasing an additional 97,288 shares during the period. Formula Growth Ltd. lifted its stake in shares of Mobileiron by 27.3% in the 2nd quarter. Formula Growth Ltd. now owns 1,400,000 shares of the software maker’s stock valued at $6,230,000 after purchasing an additional 300,000 shares during the period. Finally, North Run Capital LP lifted its stake in shares of Mobileiron by 7.2% in the 2nd quarter. North Run Capital LP now owns 1,167,700 shares of the software maker’s stock valued at $5,196,000 after purchasing an additional 78,345 shares during the period. 51.53% of the stock is currently owned by institutional investors.

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.

Further Reading: Leveraged Buyout (LBO) Explained

Analyst Recommendations for Mobileiron (NASDAQ:MOBL)

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