In a report released today, Allen Klee from Maxim Group reiterated a Buy rating on iPass (IPAS), with a price target of $5. The company’s shares closed yesterday at $1.17, close to its 52-week low of $1.10.
Klee noted:
“We expect 3Q18 revenue of $10.5M, flat sequentially, but down 21% y/y as legacy declines more than offset new growth areas.”
According to TipRanks.com, Klee is a 1-star analyst with an average return of -4.7% and a 35.0% success rate. Klee covers the Technology sector, focusing on stocks such as Net 1 Ueps, Stampscom, and Agilysys.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for iPass with a $5 average price target.
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Based on iPass’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.52 million. In comparison, last year the company had a GAAP net loss of $6.66 million.
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iPass, Inc. provides Wi-Fi roaming services for enterprise employees and service provider subscribers. The firm operates through the Mobility Services segment. The Mobility Services segment offers open mobile enterprise and open mobile exchange services.
