Mobileiron (MOBL) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Mobileiron (NASDAQ:MOBL) from a buy rating to a hold rating in a report released on Friday morning.

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. “

Separately, BidaskClub upgraded Mobileiron from a sell rating to a hold rating in a research report on Friday.



MOBL opened at $4.98 on Friday. The company has a market capitalization of $525.66 million, a price-to-earnings ratio of -11.86 and a beta of 1.75. Mobileiron has a 1-year low of $3.98 and a 1-year high of $5.71.

Mobileiron (NASDAQ:MOBL) last released its earnings results on Thursday, February 7th. The software maker reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $54.10 million during the quarter, compared to the consensus estimate of $54.40 million. Mobileiron had a negative return on equity of 75.72% and a negative net margin of 22.30%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts predict that Mobileiron will post -0.27 EPS for the current fiscal year.

In other news, CFO Scott D. Hill bought 19,396 shares of the business’s stock in a transaction on Monday, December 10th. The stock was purchased at an average cost of $4.68 per share, for a total transaction of $90,773.28. Following the completion of the transaction, the chief financial officer now directly owns 344,396 shares of the company’s stock, valued at approximately $1,611,773.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.29% of the company’s stock.

Several large investors have recently made changes to their positions in MOBL. BlackRock Inc. lifted its position in shares of Mobileiron by 24.4% during the 2nd quarter. BlackRock Inc. now owns 4,665,416 shares of the software maker’s stock valued at $20,763,000 after acquiring an additional 915,314 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Mobileiron by 38.4% during the 3rd quarter. Legal & General Group Plc now owns 2,218,021 shares of the software maker’s stock valued at $11,756,000 after acquiring an additional 615,148 shares during the last quarter. ACK Asset Management LLC acquired a new stake in shares of Mobileiron during the 3rd quarter valued at $2,541,000. Renaissance Technologies LLC lifted its position in shares of Mobileiron by 18.1% during the 3rd quarter. Renaissance Technologies LLC now owns 2,377,500 shares of the software maker’s stock valued at $12,601,000 after acquiring an additional 365,100 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Mobileiron during the 4th quarter valued at $972,000. Institutional investors own 51.10% of the company’s stock.

About Mobileiron

MobileIron, Inc provides a purpose-built 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 in the United States and internationally. The company offers MobileIron platform, a government-grade security platform, which combines cloud security, unified endpoint management, secure connectivity, and threat intelligence into an integrated solution designed to protect business data in order to deliver enterprise services to users.

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