MobileIron Pops Following Positive Analyst Note
The company, which focuses on mobile device management, according to the bank, should benefit from a boost stemming from companies moving off of BlackBerry. BlackBerry, a long-suffering mobile brand, could take a dent if Apple boosts the enterprise-facing features of its own mobile operating system, iOS.
MobileIron is up 83 cents per share, or 8.9 percent. The company currently trades for $10.20, up more than a dollar per share from its IPO price of $9.
The firm has traded from as low as $7.64 to as much as $11.74 since its debut.
The positive research note is good for the firm, though its losses remain steep on a GAAP, and non-GAAP basis. MobileIron is betting on quick revenue growth instead of profits, for now.