BidaskClub downgraded shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a sell rating in a research note released on Saturday.

MOBL has been the subject of a number of other reports. ValuEngine cut shares of Mobileiron from a buy rating to a hold rating in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Mobileiron from a hold rating to a sell rating in a research report on Friday, June 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Mobileiron currently has an average rating of Hold and an average price target of $6.31.

Shares of NASDAQ MOBL opened at $4.78 on Friday. Mobileiron has a 1 year low of $3.20 and a 1 year high of $5.71. The stock has a market cap of $533.37 million, a P/E ratio of -8.39 and a beta of 2.27.

Mobileiron (NASDAQ:MOBL) last issued its quarterly earnings results on Tuesday, July 31st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Mobileiron had a negative net margin of 29.39% and a negative return on equity of 131.24%. The company had revenue of $46.10 million during the quarter, compared to analysts’ expectations of $45.40 million. During the same period last year, the company posted ($0.08) EPS. Mobileiron’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Mobileiron will post -0.47 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Mobileiron by 24.4% during the 2nd quarter. BlackRock Inc. now owns 4,665,416 shares of the software maker’s stock valued at $20,763,000 after acquiring an additional 915,314 shares during the period. Millennium Management LLC raised its holdings in Mobileiron by 209.7% in the first quarter. Millennium Management LLC now owns 1,902,438 shares of the software maker’s stock worth $9,417,000 after buying an additional 1,288,147 shares during the last quarter. Legal & General Group Plc raised its holdings in Mobileiron by 6.5% in the second quarter. Legal & General Group Plc now owns 1,602,873 shares of the software maker’s stock worth $7,133,000 after buying an additional 97,288 shares during the last quarter. Formula Growth Ltd. raised its holdings in Mobileiron by 27.3% in the second quarter. Formula Growth Ltd. now owns 1,400,000 shares of the software maker’s stock worth $6,230,000 after buying an additional 300,000 shares during the last quarter. Finally, North Run Capital LP raised its holdings in Mobileiron by 7.2% in the second quarter. North Run Capital LP now owns 1,167,700 shares of the software maker’s stock worth $5,196,000 after buying an additional 78,345 shares during the last quarter. 52.34% of the stock is owned by institutional investors.

Mobileiron Company Profile

MobileIron, Inc provides a purpose-built mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience in the United States and internationally. The company offers MobileIron platform, a government-grade security platform, which combines cloud security, unified endpoint management, secure connectivity, and threat intelligence into an integrated solution designed to protect business data in order to deliver enterprise services to users.

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Analyst Recommendations for Mobileiron (NASDAQ:MOBL)

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