MobileIron Inc. (MOBL) Hits New 1-Year Low Following Analyst Downgrade
MobileIron Inc. (NASDAQ:MOBL) hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $7.00 to $2.75. Morgan Stanley currently has an equal weight rating on the stock. MobileIron traded as low as $2.59 and last traded at $2.63, with a volume of 158,031 shares trading hands. The stock had previously closed at $2.70.
A number of other equities research analysts have also recently commented on MOBL. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of MobileIron in a report on Thursday, June 2nd. Imperial Capital reiterated an “outperform” rating and set a $4.50 price target on shares of MobileIron in a research note on Wednesday, June 15th. Barclays PLC lowered shares of MobileIron from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $6.00 to $3.00 in a research note on Friday, July 15th. Finally, Wunderlich lowered shares of MobileIron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $7.00 to $3.00 in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $4.83.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of MobileIron during the second quarter valued at $107,000. A.R.T. Advisors LLC bought a new position in shares of MobileIron during the second quarter valued at $111,000. Teachers Advisors Inc. raised its position in shares of MobileIron by 11.6% in the second quarter. Teachers Advisors Inc. now owns 63,475 shares of the company’s stock valued at $194,000 after buying an additional 6,594 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of MobileIron during the first quarter valued at $238,000. Finally, California State Teachers Retirement System raised its position in shares of MobileIron by 11.7% in the second quarter. California State Teachers Retirement System now owns 97,489 shares of the company’s stock valued at $297,000 after buying an additional 10,203 shares during the last quarter. Institutional investors own 51.62% of the company’s stock.
The company’s market cap is $196.32 million. The firm has a 50-day moving average of $3.11 and a 200 day moving average of $3.50.
MobileIron (NASDAQ:MOBL) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The company had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $37.94 million. MobileIron had a negative net margin of 51.22% and a negative return on equity of 124.53%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS. Equities research analysts anticipate that MobileIron Inc. will post ($0.44) EPS for the current fiscal year.
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.
Receive News & Ratings for MobileIron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MobileIron Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.