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Unwired Planet (NASDAQ:UPIP) was downgraded by Zacks to a “neutral” rating in a research report issued to clients and investors on Tuesday. They currently have a $2.40 price objective on the stock. Zacks‘s price target would indicate a potential upside of 17.65% from the stock’s previous close.

Unwired Planet (NASDAQ:UPIP) traded down 1.73% during mid-day trading on Tuesday, hitting $1.985. 271,931 shares of the company’s stock traded hands. Unwired Planet has a 52-week low of $1.26 and a 52-week high of $2.44. The stock has a 50-day moving average of $2.07 and a 200-day moving average of $1.94. The company has a market cap of $220.8 million and a P/E ratio of 505.00.

Unwired Planet (NASDAQ:UPIP) last announced its earnings results on Thursday, August 14th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.07. The company had revenue of $36.40 million for the quarter, compared to the consensus estimate of $32.50 million. On average, analysts predict that Unwired Planet will post $-0.27 earnings per share for the current fiscal year.

Unwired Planet, Inc (NASDAQ:UPIP), formerly Openwave Systems Inc, is an intellectual property and technology licensing company.

To view Zacks’ full report, visit Zacks’ official website.

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