Mobileiron (MOBL) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “MobileIron, Inc. is engaged in providing security and management solutions for mobile applications, content, and devices. The Company provides software tools for device management, activity intelligence, and security. MobileIron offers multi-OS mobile device management software, mobile application management, Wireless Expense Management, Enterprise Mobility, Mobile Device Security and Bring-Your-Own-Device privacy controls, MobileIron Virtual Smartphone Platform. It serves financial services, government, healthcare, legal, manufacturing, professional services, retail, technology, and telecommunications industries in the United States and internationally. MobileIron, Inc. is headquartered in Mountain View, California. “

Several other brokerages have also issued reports on MOBL. Northland Securities reiterated a buy rating and set a $6.50 price objective on shares of Mobileiron in a report on Thursday, April 11th. BidaskClub upgraded Mobileiron from a sell rating to a hold rating in a report on Friday, February 8th.

MOBL opened at $5.63 on Friday. Mobileiron has a 12-month low of $3.98 and a 12-month high of $5.86.

Mobileiron (NASDAQ:MOBL) last announced its quarterly earnings data on Thursday, February 7th. The software maker reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Mobileiron had a negative return on equity of 76.61% and a negative net margin of 22.30%. The business had revenue of $54.10 million during the quarter, compared to analyst estimates of $54.40 million. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts predict that Mobileiron will post -0.35 EPS for the current fiscal year.

In other news, Director Leslie Stretch acquired 11,950 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $5.01 per share, for a total transaction of $59,869.50. Following the completion of the acquisition, the director now owns 22,228 shares in the company, valued at $111,362.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 24.29% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Mobileiron by 3.2% during the fourth quarter. Bank of America Corp DE now owns 95,274 shares of the software maker’s stock worth $437,000 after acquiring an additional 2,915 shares in the last quarter. Bank of Montreal Can increased its position in Mobileiron by 30.3% during the fourth quarter. Bank of Montreal Can now owns 33,202 shares of the software maker’s stock worth $153,000 after buying an additional 7,729 shares during the last quarter. Northern Trust Corp increased its position in Mobileiron by 0.9% during the fourth quarter. Northern Trust Corp now owns 881,218 shares of the software maker’s stock worth $4,045,000 after buying an additional 8,217 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in Mobileiron by 59.3% during the fourth quarter. Stone Ridge Asset Management LLC now owns 24,326 shares of the software maker’s stock worth $112,000 after buying an additional 9,055 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Mobileiron during the fourth quarter worth $50,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides 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 worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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