Mobileiron Earns “Overweight” Rating from Morgan Stanley (MOBL)
Mobileiron (NASDAQ:MOBL)‘s stock had its “overweight” rating restated by Morgan Stanley in a research note issued on Friday. They currently have a $13.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 9.52% from the company’s current price.
The analysts wrote, “As part of VMworld, we met with AirWatch cofounder Alan Dabbierre, who is now overseeing the AirWatch operating board within VMware (VMware acquired AirWatch in January of this year). During the wide-ranging conversation, Dabbierre indicated that they typically run into MobileIron competitively most frequently of the other mobile device and platform offerings. In spite of seeing MobileIron frequently, he felt like most customers ultimately develop preferences based on views of the software performance and other factors outside of prices. This is consistent with our view that most customers ultimately are choosing between the two suppliers based on other factors, like specific solution strengths, software update policies, buying channel preferences,etc.”
Mobileiron (NASDAQ:MOBL) opened at 11.87 on Friday. Mobileiron has a 52-week low of $7.64 and a 52-week high of $12.96. The stock has a 50-day moving average of $8.98 and a 200-day moving average of $9.38. The company’s market cap is $886.1 million.
Mobileiron (NASDAQ:MOBL) last released its earnings data on Wednesday, July 30th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.70) by $0.18. The company had revenue of $30.00 million for the quarter, compared to the consensus estimate of $26.84 million. Mobileiron’s revenue was up 56.3% compared to the same quarter last year. Analysts expect that Mobileiron will post $-1.56 EPS for the current fiscal year.
MOBL has been the subject of a number of other recent research reports. Analysts at Imperial Capital initiated coverage on shares of Mobileiron in a research note on Friday, August 22nd. They set an “outperform” rating and a $11.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Mobileiron from $13.00 to $14.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Raymond James initiated coverage on shares of Mobileiron in a research note on Monday, July 7th. They set an “outperform” rating and a $13.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $13.13.
Mobileiron Inc, formerly Mobile Iron, Inc, provides security and management solutions for mobile applications, content, and devices.
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