Zacks: Analysts Anticipate Mobileiron Inc (NASDAQ:MOBL) Will Announce Quarterly Sales of $52.48 Million

Brokerages expect Mobileiron Inc (NASDAQ:MOBL) to post $52.48 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Mobileiron’s earnings. The highest sales estimate is $52.90 million and the lowest is $52.04 million. Mobileiron posted sales of $49.25 million in the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The firm is scheduled to report its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Mobileiron will report full year sales of $209.66 million for the current year, with estimates ranging from $209.25 million to $210.00 million. For the next year, analysts anticipate that the business will report sales of $232.15 million, with estimates ranging from $226.60 million to $236.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Mobileiron.

Mobileiron (NASDAQ:MOBL) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Mobileiron had a negative return on equity of 89.20% and a negative net margin of 23.43%. The business had revenue of $50.87 million for the quarter, compared to the consensus estimate of $50.66 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The business’s revenue was up 10.3% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. BidaskClub raised Mobileiron from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th. ValuEngine raised Mobileiron from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Morgan Stanley raised their price objective on Mobileiron from $5.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Zacks Investment Research raised Mobileiron from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a research report on Tuesday, August 13th. Finally, Craig Hallum assumed coverage on Mobileiron in a research report on Wednesday, July 24th. They set a “buy” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $8.94.

Shares of MOBL traded up $0.05 during midday trading on Tuesday, reaching $7.11. 2,013,206 shares of the stock were exchanged, compared to its average volume of 1,164,526. Mobileiron has a 52 week low of $3.98 and a 52 week high of $7.42. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $6.68 and its two-hundred day moving average is $5.76. The company has a market capitalization of $767.58 million, a P/E ratio of -16.93 and a beta of 1.70.

In related news, major shareholder Ventures Fund Lp Storm III sold 1,300,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $6.74, for a total transaction of $8,762,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Simon Biddiscombe sold 45,089 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $6.25, for a total value of $281,806.25. Following the sale, the chief executive officer now directly owns 1,371,601 shares in the company, valued at approximately $8,572,506.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,230,912 shares of company stock worth $15,007,297. 13.48% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MOBL. Federated Investors Inc. PA boosted its position in Mobileiron by 66,867.7% during the first quarter. Federated Investors Inc. PA now owns 2,003,004 shares of the software maker’s stock valued at $10,957,000 after purchasing an additional 2,000,013 shares in the last quarter. BlackRock Inc. boosted its holdings in Mobileiron by 23.6% in the second quarter. BlackRock Inc. now owns 6,495,198 shares of the software maker’s stock worth $40,270,000 after acquiring an additional 1,239,866 shares in the last quarter. ACK Asset Management LLC boosted its holdings in Mobileiron by 92.2% in the first quarter. ACK Asset Management LLC now owns 2,056,700 shares of the software maker’s stock worth $10,130,000 after acquiring an additional 986,700 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Mobileiron by 271.0% in the second quarter. Wells Fargo & Company MN now owns 1,288,377 shares of the software maker’s stock worth $7,988,000 after acquiring an additional 941,078 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Mobileiron by 426.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,113,749 shares of the software maker’s stock worth $6,092,000 after acquiring an additional 902,054 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors.

Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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