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Stock analysts at Nomura started coverage on shares of Mobile Iron (NASDAQ:MOBL) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $13.00 price target on the stock. Nomura’s price target indicates a potential upside of 22.64% from the company’s current price.

The analysts wrote, “We are initiating coverage of MobileIron with a Buy rating and $13 target price, based on our positive view of the company’s positioning within the underpenetrated, high-growth mobile enterprise management (MEM) space. “We believe that the stock’s valuation at 4.8x EV to CY15E revenue undervalues the company’s growth prospects based on our estimates (38% y-o-y growth expected in CY15) and our expectation for the company to reach an operating margin of 20-25% over the long term. Competitive risks are high, but we believe the market opportunity is rich for the emerging market leaders.”

Mobile Iron (NASDAQ:MOBL) traded up 8.55% on Monday, hitting $10.66. The stock had a trading volume of 388,270 shares. Mobile Iron has a 1-year low of $8.89 and a 1-year high of $11.74. The stock has a 50-day moving average of $10.02 and a 200-day moving average of $10.02. The company’s market cap is $795.7 million.

MOBL has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus initiated coverage on shares of Mobile Iron in a research note on Monday. They set a “buy” rating and a $13.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Mobile Iron in a research note on Monday. They set a “buy” rating and a $13.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Mobile Iron in a research note on Monday. They set a “buy” rating and a $13.00 price target on the stock. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $13.33.

Mobile Iron, Inc provides security and management solutions for mobile applications, content, and devices.

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