iPass Inc. (IPAS) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of iPass Inc. (NASDAQ:IPAS) from a sell rating to a hold rating in a report released on Friday.
According to Zacks, “iPass Inc provides software-enabled enterprise connectivity services for mobile workers. iPass’ primary service is designed to enable enterprises to provide their employees with secure access to the enterprise’s internal network through an easy-to-use interface. “
IPAS has been the subject of a number of other research reports. Maxim Group set a $2.00 target price on iPass and gave the stock a buy rating in a report on Thursday, August 3rd. ValuEngine downgraded iPass from a hold rating to a sell rating in a report on Monday, July 24th. Finally, Aegis raised iPass from a hold rating to a buy rating and lifted their target price for the stock from $1.35 to $2.75 in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. iPass has an average rating of Hold and an average target price of $2.61.
iPass (NASDAQ IPAS) opened at 0.59 on Friday. The firm’s market capitalization is $39.34 million. The firm’s 50-day moving average is $0.96 and its 200 day moving average is $1.21. iPass has a one year low of $0.53 and a one year high of $1.89.
iPass (NASDAQ:IPAS) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.05. iPass had a negative return on equity of 78.31% and a negative net margin of 20.49%. The firm had revenue of $13.47 million for the quarter. Analysts forecast that iPass will post ($0.25) EPS for the current fiscal year.
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In other news, CEO Gary A. Griffiths bought 100,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $0.56 per share, with a total value of $56,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at $572,600. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Abbrea Capital LLC increased its stake in iPass by 46.5% in the first quarter. Abbrea Capital LLC now owns 315,000 shares of the technology company’s stock worth $369,000 after buying an additional 100,000 shares in the last quarter. P.A.W. Capital Corp purchased a new stake in iPass during the second quarter worth $271,000. Renaissance Technologies LLC increased its stake in iPass by 0.6% in the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock worth $3,690,000 after buying an additional 19,806 shares in the last quarter. Royce & Associates LP purchased a new stake in iPass during the first quarter worth $749,000. Finally, Sterling Capital Management LLC purchased a new stake in iPass during the second quarter worth $228,000. 23.36% of the stock is owned by institutional investors.
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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