Imperial Capital Initiates Coverage On MobileIron, Notes Several Revenue Streams
Imperial Capital placed an $11 price target and Outperform rating on MobileIron (NASDAQ: MOBL) Friday. Analysts at the firm believe MobileIron is a top-tier provider of mobile information technology solutions, with early leadership in the field.
Imperial Capital sees substantial growth potential from its cross-selling and upselling product portfolio. The shift to mobility is critical to the development of MobileIron's IT business; shipments of business-use smartphones and commercial-use tablets will reach 480 million units in 2017.
“We believe MobileIron is positioned to capitalize on the network effect of its mobile ecosystem” stated Michael Kim, analyst at Imperial Capital.
Kim also sees upside in MobileIron expanding third-party channel partnerships and growing mobile services. Currently, the company has at least 300 resellers and more than 35 mobile service providers.
The $11 price target is based on a 4.8 times multiple of FY15 revenue estimate of $164.1 million.
Latest Ratings for MOBL
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 2019 | Morgan Stanley | Maintains | Equal-Weight | |
| Jul 2019 | Craig-Hallum | Initiates Coverage On | Buy | |
| Feb 2018 | Imperial Capital | Upgrades | In-Line | Outperform |
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Posted-In: imperial capital Michael KimAnalyst Color News Price Target Initiation Analyst Ratings
