Mobileiron (NASDAQ:MOBL) Downgraded by Zacks Investment Research

Mobileiron (NASDAQ:MOBL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, 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 equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of Mobileiron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price objective on shares of Mobileiron from $5.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Craig Hallum began coverage on shares of Mobileiron in a research report on Wednesday, July 24th. They set a “buy” rating and a $11.00 price objective for the company. Northland Securities reiterated a “buy” rating on shares of Mobileiron in a research report on Friday, November 1st. Finally, ValuEngine cut shares of Mobileiron from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.81.

Shares of NASDAQ MOBL opened at $4.88 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.31 and a current ratio of 1.31. Mobileiron has a 52-week low of $4.11 and a 52-week high of $7.79. The firm has a 50 day moving average price of $6.30 and a two-hundred day moving average price of $6.28. The stock has a market cap of $514.80 million, a P/E ratio of -11.62 and a beta of 1.59.

Mobileiron (NASDAQ:MOBL) last announced its quarterly earnings results on Thursday, October 31st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). Mobileiron had a negative net margin of 23.43% and a negative return on equity of 96.28%. The business had revenue of $52.20 million during the quarter, compared to analyst estimates of $52.65 million. During the same quarter last year, the company posted $0.02 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Analysts predict that Mobileiron will post -0.32 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. bought a new position in Mobileiron during the third quarter worth $3,943,000. First Trust Advisors LP boosted its stake in Mobileiron by 38.6% during the third quarter. First Trust Advisors LP now owns 731,816 shares of the software maker’s stock worth $4,790,000 after acquiring an additional 203,789 shares in the last quarter. Emerald Advisers LLC bought a new position in Mobileiron during the third quarter worth $213,000. California Public Employees Retirement System boosted its stake in Mobileiron by 49.0% during the third quarter. California Public Employees Retirement System now owns 59,682 shares of the software maker’s stock worth $391,000 after acquiring an additional 19,635 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new position in Mobileiron during the third quarter worth $129,000. 62.51% of the stock is currently 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.

Read More: Understanding the two types of arbitrage

Get a free copy of the Zacks research report on Mobileiron (MOBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mobileiron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mobileiron and related companies with MarketBeat.com's FREE daily email newsletter.