Zacks Investment Research upgraded shares of iPass (NASDAQ:IPAS) from a sell rating to a hold rating in a research report sent to investors on Wednesday, March 21st.
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. “
Other research analysts have also recently issued reports about the company. Roth Capital began coverage on iPass in a research report on Wednesday, January 17th. They issued a buy rating and a $2.00 target price on the stock. Maxim Group set a $2.00 target price on iPass and gave the stock a buy rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $2.10.
NASDAQ:IPAS traded up $0.01 on Wednesday, hitting $0.35. The stock had a trading volume of 648,502 shares, compared to its average volume of 569,049. The stock has a market capitalization of $23.50, a price-to-earnings ratio of -1.12 and a beta of 0.02. iPass has a 52-week low of $0.28 and a 52-week high of $1.51.
iPass (NASDAQ:IPAS) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $13.24 million for the quarter, compared to analysts’ expectations of $12.90 million. iPass had a negative return on equity of 282.05% and a negative net margin of 37.78%. equities analysts forecast that iPass will post -0.05 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of IPAS. Northern Trust Corp lifted its position in shares of iPass by 2.4% during the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after buying an additional 3,058 shares in the last quarter. Royce & Associates LP lifted its position in shares of iPass by 14.3% during the 3rd quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock valued at $626,000 after buying an additional 118,500 shares in the last quarter. Finally, Pratt Collard Advisory Partners LLC purchased a new position in shares of iPass during the 4th quarter valued at about $940,000. 17.74% of the stock is currently owned by hedge funds and other institutional investors.
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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