iPass Inc. (IPAS) Rating Reiterated by Maxim Group
iPass Inc. (NASDAQ:IPAS)‘s stock had its “buy” rating reaffirmed by research analysts at Maxim Group in a report released on Thursday. They presently have a $2.00 price target on the technology company’s stock. Maxim Group’s target price would indicate a potential upside of 244.83% from the stock’s current price.
The analysts wrote, “Mobilise, an IPAS value added reseller to the Mobile Virtual Network Operator (MVNO) market, will deliver unlimited WiFi service to German-based mobilcom-debitel.””
IPAS has been the topic of several other research reports. ValuEngine cut iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research cut iPass from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, Aegis raised iPass from a “hold” rating to a “buy” rating and raised their price target for the company from $1.35 to $2.75 in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. iPass has a consensus rating of “Hold” and a consensus price target of $2.28.
Shares of iPass (IPAS) opened at 0.58 on Thursday. The stock’s 50 day moving average price is $0.72 and its 200 day moving average price is $1.14. iPass has a 12-month low of $0.51 and a 12-month high of $1.89. The company’s market capitalization is $38.67 million.
iPass (NASDAQ:IPAS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. The business had revenue of $13.47 million during the quarter. On average, equities research analysts forecast that iPass will post ($0.25) earnings per share for the current year.
In other news, CEO Gary A. Griffiths acquired 100,000 shares of iPass stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $0.56 per share, for a total transaction of $56,000.00. Following the transaction, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at $572,600. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in shares of iPass during the 2nd quarter valued at about $100,000. Northern Trust Corp increased its position in shares of iPass by 2.4% during the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after purchasing an additional 3,058 shares during the last quarter. Sterling Capital Management LLC bought a new position in shares of iPass during the 2nd quarter valued at about $228,000. Emancipation Management LLC bought a new position in shares of iPass during the 2nd quarter valued at about $228,000. Finally, P.A.W. Capital Corp bought a new position in shares of iPass during the 2nd quarter valued at about $271,000. Hedge funds and other institutional investors own 23.36% of the company’s stock.
iPass Company Profile
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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