iPass (IPAS) Earns Buy Rating from Analysts at Roth Capital
Analysts at Roth Capital began coverage on shares of iPass (NASDAQ:IPAS) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $2.00 price target on the technology company’s stock. Roth Capital’s target price would suggest a potential upside of 300.00% from the stock’s current price.
Other research analysts also recently issued reports about the company. Maxim Group reiterated a “buy” rating and set a $2.00 price objective on shares of iPass in a research note on Thursday, November 2nd. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $2.22.
Shares of iPass (NASDAQ IPAS) traded up $0.03 during trading hours on Wednesday, hitting $0.50. The company had a trading volume of 1,170,384 shares, compared to its average volume of 608,377. The company has a market cap of $33.37, a P/E ratio of -1.85 and a beta of -0.34. iPass has a 52 week low of $0.44 and a 52 week high of $1.63.
iPass (NASDAQ:IPAS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.05). iPass had a negative net margin of 30.66% and a negative return on equity of 149.50%. sell-side analysts expect that iPass will post -0.29 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in iPass in the 2nd quarter worth approximately $100,000. Northern Trust Corp boosted its stake in iPass by 2.4% in the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock worth $173,000 after purchasing an additional 3,058 shares during the period. Sterling Capital Management LLC bought a new position in iPass in the 2nd quarter worth approximately $228,000. P.A.W. Capital Corp boosted its stake in iPass by 143.9% in the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock worth $330,000 after purchasing an additional 295,000 shares during the period. Finally, Royce & Associates LP boosted its stake in iPass by 14.3% in the 3rd quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock worth $626,000 after purchasing an additional 118,500 shares during the period. Institutional investors and hedge funds own 26.58% of the company’s stock.
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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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