Mobileiron (NASDAQ:MOBL) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a sell rating in a research note issued to investors on Thursday 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. “

A number of other equities research analysts have also commented on the company. BidaskClub lowered Mobileiron from a sell rating to a strong sell rating in a research report on Tuesday, October 22nd. Northland Securities reiterated a buy rating on shares of Mobileiron in a research report on Friday, November 1st. ValuEngine lowered Mobileiron from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Craig Hallum initiated coverage on Mobileiron in a research report on Wednesday, July 24th. They issued a buy rating and a $11.00 target price on the stock. Finally, Morgan Stanley upped their target price on Mobileiron from $5.00 to $8.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $8.81.

Shares of MOBL traded down $0.12 during trading hours on Thursday, reaching $4.76. 1,034,000 shares of the company traded hands, compared to its average volume of 908,368. Mobileiron has a 12-month low of $4.11 and a 12-month high of $7.79. The firm has a market cap of $532.74 million, a price-to-earnings ratio of -11.33 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $6.20 and its 200 day moving average price is $6.27.

Mobileiron (NASDAQ:MOBL) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). Mobileiron had a negative return on equity of 100.03% and a negative net margin of 23.43%. The business had revenue of $52.20 million for the quarter, compared to analysts’ expectations of $52.65 million. During the same quarter in the previous year, the firm posted $0.02 EPS. Mobileiron’s revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that Mobileiron will post -0.35 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its position in Mobileiron by 1,740.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,307 shares of the software maker’s stock worth $28,000 after purchasing an additional 4,073 shares in the last quarter. Aperio Group LLC purchased a new stake in Mobileiron in the 2nd quarter worth approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mobileiron by 519.5% in 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 in the last quarter. United Services Automobile Association purchased a new stake in Mobileiron in the 2nd quarter worth approximately $68,000. Finally, Trexquant Investment LP purchased a new stake in Mobileiron in the 2nd quarter worth approximately $69,000. Hedge funds and other institutional investors own 62.51% of the company’s stock.

About Mobileiron

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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