Analysts Anticipate MobileIron, Inc. (MOBL) Will Announce Quarterly Sales of $45.13 Million
Brokerages expect MobileIron, Inc. (NASDAQ:MOBL) to report $45.13 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for MobileIron’s earnings. The highest sales estimate is $45.34 million and the lowest is $45.00 million. MobileIron reported sales of $41.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The company is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that MobileIron will report full year sales of $45.13 million for the current year, with estimates ranging from $179.45 million to $180.38 million. For the next fiscal year, analysts expect that the firm will post sales of $200.13 million per share, with estimates ranging from $197.83 million to $202.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover MobileIron.
MobileIron (NASDAQ:MOBL) last released its earnings results on Thursday, July 27th. The software maker reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. The company had revenue of $42.65 million during the quarter, compared to the consensus estimate of $43.44 million. MobileIron had a negative return on equity of 136.81% and a negative net margin of 32.67%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) earnings per share.
Several equities research analysts recently weighed in on MOBL shares. Benchmark Co. started coverage on MobileIron in a report on Tuesday, April 25th. They set a “buy” rating and a $7.00 price objective on the stock. Barclays PLC reissued a “sell” rating and set a $5.00 price objective on shares of MobileIron in a report on Wednesday, July 19th. Northland Securities reissued a “buy” rating and set a $7.00 price objective on shares of MobileIron in a report on Friday, July 14th. ValuEngine raised MobileIron from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered MobileIron from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.28.
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In other news, major shareholder Sc Xii Management Llc sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $5.10, for a total value of $2,550,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Aaref Hilaly sold 15,133 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $5.10, for a total value of $77,178.30. Following the completion of the sale, the director now owns 68,424 shares of the company’s stock, valued at $348,962.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 562,147 shares of company stock valued at $2,893,567. 31.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of MobileIron by 13.0% in the second quarter. Vanguard Group Inc. now owns 2,968,465 shares of the software maker’s stock valued at $17,960,000 after buying an additional 340,924 shares in the last quarter. FMR LLC increased its position in MobileIron by 973.7% in the second quarter. FMR LLC now owns 1,347,500 shares of the software maker’s stock worth $8,152,000 after buying an additional 1,222,000 shares during the period. Renaissance Technologies LLC increased its position in MobileIron by 23.2% in the first quarter. Renaissance Technologies LLC now owns 1,125,000 shares of the software maker’s stock worth $4,894,000 after buying an additional 211,500 shares during the period. Unterberg Capital LLC increased its position in MobileIron by 18.0% in the second quarter. Unterberg Capital LLC now owns 820,000 shares of the software maker’s stock worth $4,961,000 after buying an additional 124,896 shares during the period. Finally, Formula Growth Ltd. bought a new position in MobileIron during the first quarter worth about $3,114,000. Institutional investors own 49.59% of the company’s stock.
MobileIron (MOBL) traded up 1.28% during midday trading on Friday, hitting $3.95. The stock had a trading volume of 322,250 shares. The company’s market capitalization is $294.86 million. The company’s 50-day moving average price is $5.54 and its 200 day moving average price is $5.00. MobileIron has a 52 week low of $2.56 and a 52 week high of $6.78.
MobileIron, Inc (MobileIron) provides a mobile information technology (IT) platform for enterprises to manage and secure mobile applications, content and devices. The Company’s solution provides enterprise security. The MobileIron Platform combines security and enterprise mobility management (EMM) tools, including mobile device management (MDM), mobile application management (MAM), and mobile content management (MCM) capabilities.
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