Morgan Stanley Cuts MobileIron Inc. (MOBL) Price Target to $2.75
Several other research analysts have also recently commented on MOBL. Imperial Capital reaffirmed an outperform rating and issued a $4.50 target price on shares of MobileIron in a research report on Monday, July 25th. Barclays PLC cut MobileIron from an overweight rating to an underweight rating and reduced their target price for the stock from $6.00 to $3.00 in a research report on Friday, July 15th. Raymond James Financial Inc. reaffirmed a buy rating on shares of MobileIron in a research report on Thursday, June 2nd. Finally, Wunderlich cut MobileIron from a buy rating to a hold rating and reduced their target price for the stock from $7.00 to $3.00 in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $4.83.
Shares of MobileIron (NASDAQ:MOBL) opened at 2.575 on Monday. MobileIron has a 1-year low of $2.56 and a 1-year high of $4.78. The company’s market cap is $192.22 million. The firm’s 50-day moving average is $3.06 and its 200 day moving average is $3.48.
MobileIron (NASDAQ:MOBL) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. MobileIron had a negative return on equity of 124.53% and a negative net margin of 51.22%. The company earned $38.90 million during the quarter, compared to analysts’ expectations of $37.94 million. During the same period in the prior year, the business earned ($0.25) earnings per share. MobileIron’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that MobileIron will post ($0.44) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in MobileIron by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,555,170 shares of the company’s stock valued at $7,794,000 after buying an additional 75,524 shares in the last quarter. General Motors Investment Management Corp purchased a new position in MobileIron during the second quarter valued at about $826,000. Emerald Acquisition Ltd. purchased a new position in MobileIron during the second quarter valued at about $107,000. California State Teachers Retirement System boosted its position in 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in MobileIron by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 199,575 shares of the company’s stock valued at $608,000 after buying an additional 10,775 shares in the last quarter. Institutional investors and hedge funds own 51.62% 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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