iPass Inc. (NASDAQ:IPAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “iPass Inc provides software-enabled enterprise connectivity services for mobile workers. iPass’ primary service is designed to enable enterprises to provide their employees with secure access to the enterprise’s internal network through an easy-to-use interface. “
Several other analysts have also recently issued reports on the company. Aegis upgraded iPass from a “hold” rating to a “buy” rating and upped their price objective for the company from $1.35 to $2.75 in a research note on Wednesday, May 24th. Maxim Group reaffirmed a “buy” rating and set a $3.00 target price on shares of iPass in a report on Tuesday, May 23rd. Finally, ValuEngine lowered iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.28.
iPass (IPAS) opened at 0.59 on Friday. The stock’s market capitalization is $39.34 million. iPass has a 52 week low of $0.51 and a 52 week high of $1.89. The firm has a 50 day moving average price of $0.66 and a 200 day moving average price of $1.13.
iPass (NASDAQ:IPAS) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $13.47 million for the quarter. Equities research analysts predict that iPass will post ($0.25) earnings per share for the current year.
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In related news, CEO Gary A. Griffiths bought 100,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $0.56 per share, with a total value of $56,000.00. Following the completion of the acquisition, 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 can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in shares of iPass during the second quarter valued at approximately $228,000. Susquehanna International Group LLP bought a new position in shares of iPass during the second quarter valued at approximately $100,000. Northern Trust Corp grew its holdings in shares of iPass by 2.4% during the second 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. Emancipation Management LLC bought a new position in shares of iPass during the second quarter valued at approximately $228,000. Finally, Royce & Associates LP grew its holdings in shares of iPass by 29.7% during the second quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock valued at $1,096,000 after purchasing an additional 190,000 shares during the last quarter. 23.36% of the stock is owned by institutional investors.
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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