Zacks Investment Research Upgrades Mobileiron (MOBL) to Strong-Buy

Mobileiron (NASDAQ:MOBL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $5.50 target price on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.44% 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. “

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Mobileiron from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. ValuEngine upgraded shares of Mobileiron from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $6.31.

MOBL traded down $0.02 during trading on Wednesday, hitting $4.98. 14,678 shares of the stock traded hands, compared to its average volume of 275,419. Mobileiron has a twelve month low of $3.70 and a twelve month high of $5.71. The company has a market cap of $522.50 million, a P/E ratio of -8.72 and a beta of 2.12.

Mobileiron (NASDAQ:MOBL) last announced its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. Mobileiron had a negative net margin of 23.27% and a negative return on equity of 89.47%. The business had revenue of $49.25 million during the quarter, compared to the consensus estimate of $48.42 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Mobileiron will post -0.4 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of Mobileiron by 4,954.2% during the third quarter. Bank of Montreal Can now owns 25,473 shares of the software maker’s stock worth $135,000 after buying an additional 24,969 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mobileiron during the first quarter worth $142,000. Cubist Systematic Strategies LLC acquired a new position in shares of Mobileiron during the first quarter worth $148,000. Rhumbline Advisers increased its holdings in shares of Mobileiron by 40.2% during the second quarter. Rhumbline Advisers now owns 66,625 shares of the software maker’s stock worth $296,000 after buying an additional 19,100 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Mobileiron by 19.3% during the third quarter. Swiss National Bank now owns 96,500 shares of the software maker’s stock worth $511,000 after buying an additional 15,600 shares in the last quarter. Institutional investors and hedge funds own 52.31% of the company’s stock.

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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