iPass Inc. (IPAS) Stock Rating Upgraded by Zacks Investment Research

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.

ILLEGAL ACTIVITY WARNING: “iPass Inc. (IPAS) Stock Rating Upgraded by Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2017/09/17/ipass-inc-ipas-stock-rating-upgraded-by-zacks-investment-research.html.

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.

About iPass

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.

Analyst Recommendations for iPass (NASDAQ:IPAS)

Receive News & Ratings for iPass Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iPass Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply