Mobileiron (NASDAQ:MOBL) Price Target Raised to $8.00

Mobileiron (NASDAQ:MOBL) had its target price lifted by Morgan Stanley from $5.00 to $8.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the software maker’s stock.

A number of other brokerages have also issued reports on MOBL. BidaskClub upgraded Mobileiron from a hold rating to a buy rating in a research report on Tuesday, July 30th. ValuEngine upgraded Mobileiron from a buy rating to a strong-buy rating in a research report on Saturday, May 4th. Northland Securities reiterated a buy rating and set a $9.00 target price on shares of Mobileiron in a research report on Friday. Craig Hallum began coverage on Mobileiron in a report on Wednesday, July 24th. They issued a buy rating and a $11.00 price objective on the stock. Finally, Zacks Investment Research upgraded Mobileiron from a sell rating to a hold rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $8.44.

Shares of NASDAQ:MOBL traded down $0.50 during midday trading on Friday, reaching $6.77. 114,926 shares of the company’s stock traded hands, compared to its average volume of 777,571. Mobileiron has a 1 year low of $3.98 and a 1 year high of $7.42. The stock has a market cap of $790.41 million, a P/E ratio of -16.10 and a beta of 1.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.40 and a current ratio of 1.40. The company has a fifty day simple moving average of $6.27.

Mobileiron (NASDAQ:MOBL) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Mobileiron had a negative return on equity of 82.41% and a negative net margin of 23.43%. The firm had revenue of $50.87 million for the quarter, compared to analyst estimates of $50.66 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Mobileiron will post -0.39 earnings per share for the current fiscal year.

In other Mobileiron news, insider Simon Biddiscombe sold 52,496 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $6.29, for a total value of $330,199.84. Following the completion of the sale, the insider now directly owns 1,319,105 shares of the company’s stock, valued at approximately $8,297,170.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sohail M. Parekh sold 25,449 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.99, for a total value of $152,439.51. Following the completion of the sale, the vice president now directly owns 557,080 shares of the company’s stock, valued at $3,336,909.20. The disclosure for this sale can be found here. Insiders sold a total of 123,034 shares of company stock valued at $764,446 over the last ninety days. Corporate insiders own 13.48% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC acquired a new stake in shares of Mobileiron during the 2nd quarter worth about $41,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Mobileiron by 519.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the software maker’s stock worth $50,000 after purchasing an additional 6,785 shares during the last quarter. Quantamental Technologies LLC increased its position in shares of Mobileiron by 78.7% during the 1st quarter. Quantamental Technologies LLC now owns 8,400 shares of the software maker’s stock worth $46,000 after purchasing an additional 3,700 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Mobileiron during the 1st quarter worth about $57,000. Finally, Amalgamated Bank acquired a new stake in shares of Mobileiron during the 4th quarter worth about $50,000. 58.22% of the stock is owned by institutional investors and hedge funds.

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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