Zacks: Analysts Anticipate MobileIron, Inc. (NASDAQ:MOBL) Will Post Quarterly Sales of $43.51 Million
Wall Street analysts expect that MobileIron, Inc. (NASDAQ:MOBL) will announce sales of $43.51 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MobileIron’s earnings. The lowest sales estimate is $43.40 million and the highest is $43.70 million. MobileIron reported sales of $38.88 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.9%. The business is scheduled to report its next earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that MobileIron will report full year sales of $43.51 million for the current fiscal year, with estimates ranging from $182.50 million to $183.00 million. For the next financial year, analysts forecast that the firm will report sales of $204.97 million per share, with estimates ranging from $201.31 million to $208.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for MobileIron.
MobileIron (NASDAQ:MOBL) last announced its quarterly earnings results on Thursday, April 27th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. MobileIron had a negative net margin of 36.01% and a negative return on equity of 132.95%. The company had revenue of $42.29 million during the quarter, compared to analyst estimates of $41.88 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The firm’s revenue was up 11.3% on a year-over-year basis.
A number of equities analysts recently weighed in on MOBL shares. Benchmark Co. started coverage on shares of MobileIron in a research note on Tuesday, April 25th. They set a “buy” rating and a $7.00 target price for the company. Northland Securities reissued a “buy” rating and set a $7.00 target price on shares of MobileIron in a research note on Friday, July 14th. ValuEngine raised shares of MobileIron from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of MobileIron from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Barclays PLC reissued a “sell” rating and set a $5.00 target price on shares of MobileIron in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $5.28.
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Shares of MobileIron (NASDAQ MOBL) remained flat at $6.25 during trading on Friday. 2,854,856 shares of the company’s stock traded hands. MobileIron has a 12 month low of $2.56 and a 12 month high of $6.78. The firm’s 50-day moving average is $6.02 and its 200-day moving average is $4.94. The stock’s market capitalization is $466.55 million.
In other news, Director Aaref Hilaly sold 39,345 shares of MobileIron stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $4.25, for a total transaction of $167,216.25. Following the completion of the transaction, the director now directly owns 68,424 shares in the company, valued at $290,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sc Xii Management Llc sold 500,000 shares of MobileIron stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $5.10, for a total transaction of $2,550,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 638,604 shares of company stock valued at $3,251,838. Insiders own 31.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of MobileIron by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 68,375 shares of the software maker’s stock worth $297,000 after buying an additional 2,533 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of MobileIron during the first quarter worth about $297,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of MobileIron during the first quarter worth about $154,000. Highbridge Capital Management LLC acquired a new position in shares of MobileIron during the first quarter worth about $421,000. Finally, Bank of America Corp DE boosted its position in shares of MobileIron by 0.5% in the first quarter. Bank of America Corp DE now owns 62,960 shares of the software maker’s stock worth $274,000 after buying an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 52.76% of the company’s stock.
MobileIron Company Profile
MobileIron, Inc (MobileIron) provides a mobile information technology (IT) platform for enterprises to manage and secure mobile applications, content and devices. The Company’s solution provides enterprise security. The MobileIron Platform combines security and enterprise mobility management (EMM) tools, including mobile device management (MDM), mobile application management (MAM), and mobile content management (MCM) capabilities.
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