Wall Street analysts predict that iPass Inc. (NASDAQ:IPAS) will announce earnings of ($0.30) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for iPass’ earnings. iPass posted earnings per share of ($1.00) during the same quarter last year, which would indicate a positive year-over-year growth rate of 70%. The company is scheduled to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that iPass will report full year earnings of ($1.66) per share for the current year, with EPS estimates ranging from ($1.77) to ($1.50). For the next fiscal year, analysts expect that the company will report earnings of ($0.52) per share, with EPS estimates ranging from ($0.53) to ($0.50). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover iPass.
iPass (NASDAQ:IPAS) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.20). iPass had a negative net margin of 40.13% and a negative return on equity of 130,046.80%. The company had revenue of $10.54 million for the quarter, compared to analysts’ expectations of $12.90 million.
A number of equities research analysts have weighed in on IPAS shares. ValuEngine upgraded shares of iPass from a “hold” rating to a “buy” rating in a report on Friday, July 6th. Zacks Investment Research upgraded shares of iPass from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. Maxim Group restated a “buy” rating and issued a $12.50 price objective on shares of iPass in a report on Thursday, July 19th. Finally, Dawson James started coverage on shares of iPass in a report on Tuesday, September 4th. They issued a “buy” rating and a $3.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $11.00.
Shares of IPAS opened at $1.61 on Friday. The stock has a market capitalization of $17.13 million, a price-to-earnings ratio of -0.52 and a beta of -0.26. The company has a debt-to-equity ratio of -3.08, a quick ratio of 1.26 and a current ratio of 1.26. iPass has a fifty-two week low of $1.55 and a fifty-two week high of $7.40.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pratt Collard Advisory Partners LLC grew its holdings in iPass by 8.2% in the second quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock worth $617,000 after purchasing an additional 135,600 shares during the period. Renaissance Technologies LLC grew its holdings in iPass by 8.0% in the second quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock worth $1,225,000 after purchasing an additional 262,210 shares during the period. Manatuck Hill Partners LLC grew its holdings in iPass by 133.3% in the second quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock worth $362,000 after purchasing an additional 600,000 shares during the period. Finally, Perkins Capital Management Inc. purchased a new stake in iPass in the second quarter worth about $566,000.
iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.
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