Deutsche Bank Downgrades MobileIron (MOBL) to Hold

Deutsche Bank downgraded MobileIron (NASDAQ: MOBL) from Buy to Hold with a price target of $6.00 (from $8.00). Analyst Karl Keirstead noted disappointing H2 guidance.

"Following the 1Q15 miss, we stuck with our bullish call on MobileIron (MOBL) on the assumption that a) end market demand for mobile IT solutions was still strong, b) that MOBL had adequately re-set 2015 revs/billings guidance and c) that MOBL seemed serious about making operational changes and trimming costs. Given the 2Q15 results and call, we’ve lost confidence in all three of these pillars to our bullish call. With two strikes, we’re moving to the sidelines with a HOLD rating and a new PT of $6, down from $8," said Keirstead.

For an analyst ratings summary and ratings history on MobileIron click here. For more ratings news on MobileIron click here.

Shares of MobileIron closed at $5.38 yesterday.

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