Shares of iPass Inc. (NASDAQ:IPAS) have earned an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2.61.
Several equities analysts have commented on the company. Zacks Investment Research downgraded iPass from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. ValuEngine downgraded iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Maxim Group set a $2.00 target price on iPass and gave the company a “buy” rating in a research report on Thursday, August 3rd. Aegis upgraded iPass from a “hold” rating to a “buy” rating and increased their target price for the company from $1.35 to $2.75 in a research report on Wednesday, May 24th. Finally, Benchmark Co. assumed coverage on iPass in a research report on Tuesday, April 25th. They issued a “buy” rating and a $3.00 target price for the company.
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In related news, CEO Gary A. Griffiths acquired 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, for a total transaction of $56,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,022,500 shares of the company’s stock, valued at $572,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of iPass by 2.4% in the second quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock worth $173,000 after buying an additional 3,058 shares during the last quarter. Abbrea Capital LLC increased its stake in shares of iPass by 3.5% in the second quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock worth $430,000 after buying an additional 11,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of iPass by 0.6% in the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock worth $3,690,000 after buying an additional 19,806 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of iPass during the second quarter worth $100,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of iPass during the second quarter worth $228,000. Institutional investors and hedge funds own 24.12% of the company’s stock.
iPass (NASDAQ IPAS) traded down 1.67% on Friday, hitting $0.59. The company had a trading volume of 54,900 shares. The firm’s market capitalization is $39.34 million. iPass has a 12-month low of $0.53 and a 12-month high of $1.89. The firm has a 50-day moving average price of $1.06 and a 200-day moving average price of $1.24.
iPass (NASDAQ:IPAS) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.05. The firm had revenue of $13.47 million during the quarter. iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. On average, equities research analysts anticipate that iPass will post ($0.25) 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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