MobileIron, Inc. (MOBL) Earns “Buy” Rating from Instinet
MobileIron, Inc. (NASDAQ:MOBL)‘s stock had its “buy” rating reissued by equities researchers at Instinet in a report issued on Saturday. They presently have a $5.50 target price on the stock. Instinet’s price objective would indicate a potential upside of 27.91% from the company’s current price.
A number of other equities research analysts have also weighed in on MOBL. Morgan Stanley lowered their target price on MobileIron from $7.00 to $2.75 and set an “equal weight” rating for the company in a research note on Monday, September 19th. Wunderlich boosted their target price on MobileIron from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Friday, October 28th. Zacks Investment Research raised MobileIron from a “hold” rating to a “strong-buy” rating and set a $4.25 target price for the company in a research note on Thursday, November 3rd. Finally, Northland Securities reissued an “outperform” rating and issued a $6.00 target price on shares of MobileIron in a research note on Sunday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.69.
MobileIron (NASDAQ:MOBL) opened at 4.30 on Friday. The company’s market cap is $320.99 million. MobileIron has a one year low of $2.56 and a one year high of $4.78. The firm has a 50-day moving average price of $4.06 and a 200 day moving average price of $3.44.
MobileIron (NASDAQ:MOBL) last released its earnings results on Thursday, October 27th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. MobileIron had a negative return on equity of 124.35% and a negative net margin of 44.20%. The company earned $41.60 million during the quarter, compared to analyst estimates of $41.52 million. During the same quarter in the previous year, the company posted ($0.17) EPS. MobileIron’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts expect that MobileIron will post ($0.39) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MOBL. Capital World Investors increased its position in shares of MobileIron by 25.3% in the third quarter. Capital World Investors now owns 3,044,353 shares of the company’s stock worth $8,372,000 after buying an additional 615,000 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new position in shares of MobileIron during the third quarter worth about $2,787,000. D. E. Shaw & Co. Inc. increased its position in shares of MobileIron by 17.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 295,711 shares of the company’s stock worth $813,000 after buying an additional 44,704 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of MobileIron during the third quarter worth about $100,000. Finally, UBS Oconnor LLC increased its position in shares of MobileIron by 8.5% in the third quarter. UBS Oconnor LLC now owns 190,242 shares of the company’s stock worth $523,000 after buying an additional 14,928 shares in the last quarter. Institutional investors own 48.07% of the company’s stock.
MobileIron Company Profile
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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