iPass (IPAS) Upgraded to “Buy” by ValuEngine

iPass (NASDAQ:IPAS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages have also recently issued reports on IPAS. Maxim Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of iPass in a report on Thursday, August 9th. Dawson James began coverage on shares of iPass in a report on Tuesday, September 4th. They issued a “buy” rating and a $3.00 target price for the company. Finally, Zacks Investment Research raised shares of iPass from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $11.00.

NASDAQ:IPAS traded down $0.09 during mid-day trading on Friday, reaching $1.41. The stock had a trading volume of 50,800 shares, compared to its average volume of 84,155. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of -3.08. The company has a market cap of $13.19 million, a P/E ratio of -0.45 and a beta of -0.26. iPass has a twelve month low of $1.39 and a twelve month high of $7.40.

iPass (NASDAQ:IPAS) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.20). iPass had a negative net margin of 40.13% and a negative return on equity of 130,046.80%. The firm had revenue of $10.54 million during the quarter, compared to analyst estimates of $12.90 million. Analysts expect that iPass will post -1.66 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in iPass by 8.0% in the second quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock valued at $1,225,000 after buying an additional 262,210 shares in the last quarter. Pratt Collard Advisory Partners LLC increased its holdings in iPass by 8.2% in the second quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock valued at $617,000 after buying an additional 135,600 shares in the last quarter. Perkins Capital Management Inc. purchased a new position in iPass in the second quarter valued at about $566,000. Finally, Manatuck Hill Partners LLC increased its holdings in iPass by 133.3% in the second quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock valued at $362,000 after buying an additional 600,000 shares in the last quarter.

iPass Company Profile

iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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