MobileIron Inc. (NASDAQ:MOBL) dropped 2.6% on Wednesday . The stock traded as low as $3.32 and last traded at $3.32, with a volume of 63,458 shares trading hands. The stock had previously closed at $3.41.

MOBL has been the subject of several research reports. Barclays PLC cut shares of MobileIron from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $6.00 to $3.00 in a research report on Friday, July 15th. Imperial Capital restated an “outperform” rating and issued a $4.50 price objective on shares of MobileIron in a research report on Wednesday, June 15th. Wunderlich restated a “buy” rating and issued a $7.00 price objective (down previously from $9.00) on shares of MobileIron in a research report on Friday, April 29th. Raymond James Financial Inc. restated a “buy” rating on shares of MobileIron in a research report on Thursday, June 2nd. Finally, Zacks Investment Research cut shares of MobileIron from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. MobileIron has an average rating of “Buy” and a consensus target price of $5.64.

The stock’s market cap is $250.07 million. The firm has a 50-day moving average of $3.21 and a 200-day moving average of $3.62.

MobileIron (NASDAQ:MOBL) last issued its earnings results on Thursday, April 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm earned $38 million during the quarter, compared to the consensus estimate of $39.09 million. MobileIron’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. On average, equities research analysts forecast that MobileIron Inc. will post ($0.45) earnings per share for the current fiscal year.

MobileIron, Inc, formerly Mobile Iron, Inc, provides a purpose-built mobile Information Technology (IT) platform for enterprises to secure and manage mobile applications, content and devices. The Company offers its customers the flexibility to use its software as a cloud service or to deploy it on premise.

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