Mobileiron (NASDAQ:MOBL)
MobileIron, Inc. (MOBL), a company that provides security for mobile IT platforms yesterday reported their second quarter 2017 financial results. They also reported a loss of $18.5 million in the second quarter.
MobileIron reported adjusted second quarter earnings of a loss of $0.08 per share which was exactly what analysts were expecting.
MobileIron reported second quarter revenues of $42.7 million which fell short of analyst expectations of $43.5 million.
MobileIron, Inc. CEO’s Comments
“In the second quarter, we hit a major milestone, surpassing 15,000 cumulative customers, and we saw positive cloud growth with over 75% of our new customers in this quarter choosing our cloud platform,” said Barry Mainz, President and CEO, MobileIron. “We had some large deals that didn’t close as planned. Looking ahead, we expect to improve sales execution in the second half of the year while we maintain our focus on fiscal discipline. We remain committed to our guidance of being cash from operations positive for the year and to achieving a non-GAAP operating margin of between -2% and +2% for the fourth quarter.”
MOBL Technical Analysis
MOBL opened trading yesterday at $5.50 which was exactly the same as the previous day’s trading close. Shares closed trading yesterday at $5.55 and spiked down after market to $4.95, equivalent to a 11% decrease from the closing price. Taking a look at the daily chart we can see the last time MOBL traded below these levels we have to go back to May 8th when it traded at lows of $4.85.
Taking a closer look at the daily chart we can see that before the spike down MOBL had already been in an overall downward trend dating back to June 23rd when it traded at $6.60. MOBL has a float of 47.56 million shares and traded 1.76 times the normal daily trading volume on Thursday.
For trading purposes, I would like to see MOBL open trading on Friday below $5.15 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.10 from my entry position fearing anything more than that and the stock would start to fill in the gap down.
Company Profile
MobileIron, Inc. provides a purpose-built mobile IT platform that enables enterprises to secure and manage mobile applications, content, and devices while providing their employees with device choice, privacy, and a native user experience.
Its MobileIron platform offers enterprise mobility management (EMM) solution that configures and delivers applications to smartphones, tablets, laptops, and desktops running operating systems, such as Android, iOS, macOS, and Windows 10; and secures data-at-rest and data-in-motion on modern endpoints and across the corporate network, as well as secures access to back-end corporate networks and cloud services.
The company serves financial service, government, healthcare, legal, manufacturing, professional service, retail, technology, and telecommunication industries in the United States and internationally. MobileIron, Inc. was founded in 2007 and is headquartered in Mountain View, California.”