iPass Inc. (NASDAQ:IPAS) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. iPass’ rating score has improved by 50% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price objective of $2.00 for the company, according to Zacks. Zacks has also given iPass an industry rank of 20 out of 265 based on the ratings given to related companies.
Separately, Chardan Capital upgraded iPass from a “neutral” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Thursday, August 4th.
In other iPass news, CEO Gary A. Griffiths purchased 20,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were purchased at an average cost of $1.58 per share, for a total transaction of $31,600.00. Following the acquisition, the chief executive officer now owns 1,230,000 shares of the company’s stock, valued at $1,943,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of IPAS. BlackRock Fund Advisors boosted its position in shares of iPass by 14.1% in the second quarter. BlackRock Fund Advisors now owns 177,690 shares of the company’s stock worth $220,000 after buying an additional 21,972 shares in the last quarter. Adirondack Research & Management Inc. boosted its position in shares of iPass by 1.5% in the second quarter. Adirondack Research & Management Inc. now owns 3,002,930 shares of the company’s stock worth $3,724,000 after buying an additional 45,476 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of iPass by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,180,536 shares of the company’s stock worth $2,704,000 after buying an additional 28,600 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of iPass by 3.3% in the first quarter. Renaissance Technologies LLC now owns 2,736,798 shares of the company’s stock worth $3,010,000 after buying an additional 87,100 shares in the last quarter. Hedge funds and other institutional investors own 29.98% of the company’s stock.
iPass (NASDAQ:IPAS) opened at 1.62 on Monday. iPass has a one year low of $0.81 and a one year high of $1.73. The company’s 50-day moving average is $1.59 and its 200-day moving average is $1.31. The firm’s market capitalization is $106.29 million.
iPass (NASDAQ:IPAS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $16.50 million for the quarter, compared to analyst estimates of $16.31 million. iPass had a negative net margin of 17.49% and a negative return on equity of 50.74%. Equities analysts forecast that iPass will post ($0.11) earnings per share for the current fiscal year.
iPass Company Profile
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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