Northland Securities Reaffirms Buy Rating for Mobileiron (NASDAQ:MOBL)

Mobileiron (NASDAQ:MOBL)‘s stock had its “buy” rating reiterated by equities research analysts at Northland Securities in a research note issued on Wednesday, June 26th, AnalystRatings.com reports. They currently have a $6.50 target price on the software maker’s stock. Northland Securities’ price target points to a potential upside of 3.34% from the stock’s previous close.

The analysts wrote, “We spoke with five distributors and over 10 resellers. Channel feedback for core mobile security remains strong while newer products such as Access continue to exhibit even strong results driven by the low penetration rate. In addition the new zero sign-on product called Identification appears to be developing a lot of interest. Reiterate Outperform rating and $6.50 price target.””

Several other equities analysts also recently weighed in on MOBL. Zacks Investment Research downgraded Zurich Insurance Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th.

NASDAQ:MOBL traded up $0.03 during mid-day trading on Wednesday, hitting $6.29. 670,600 shares of the company’s stock traded hands, compared to its average volume of 800,891. The stock has a fifty day moving average of $5.86. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.24. The company has a market cap of $675.16 million, a P/E ratio of -14.98 and a beta of 1.70. Mobileiron has a twelve month low of $3.98 and a twelve month high of $6.58.

Mobileiron (NASDAQ:MOBL) last posted its earnings results on Thursday, April 25th. The software maker reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $48.10 million for the quarter, compared to analyst estimates of $48.10 million. Mobileiron had a negative return on equity of 80.43% and a negative net margin of 22.17%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. Analysts expect that Mobileiron will post -0.39 earnings per share for the current year.

In related news, insider Simon Biddiscombe sold 52,496 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 1,319,105 shares of the company’s stock, valued at approximately $8,297,170.45. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth R. Klein sold 30,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $5.91, for a total value of $177,300.00. Following the transaction, the director now directly owns 113,995 shares in the company, valued at approximately $673,710.45. The disclosure for this sale can be found here. Insiders have sold a total of 163,034 shares of company stock valued at $1,002,646 over the last ninety days. 13.48% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of Mobileiron by 66,867.7% in the first quarter. Federated Investors Inc. PA now owns 2,003,004 shares of the software maker’s stock valued at $10,957,000 after purchasing an additional 2,000,013 shares during the period. ACK Asset Management LLC increased its stake in shares of Mobileiron by 92.2% in the first quarter. ACK Asset Management LLC now owns 2,056,700 shares of the software maker’s stock valued at $10,130,000 after purchasing an additional 986,700 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Mobileiron by 426.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,113,749 shares of the software maker’s stock valued at $6,092,000 after purchasing an additional 902,054 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in shares of Mobileiron in the first quarter valued at approximately $3,282,000. Finally, Cowen Prime Services LLC increased its stake in shares of Mobileiron by 41.6% in the first quarter. Cowen Prime Services LLC now owns 1,759,400 shares of the software maker’s stock valued at $9,624,000 after purchasing an additional 517,200 shares during the period. 62.12% 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.

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