MobileIron (NASDAQ:MOBL) stock is taking off on Friday following rumors that the company may be the target of an acquisition.
According to recent reports, MobileIron is in advanced talks to be acquired. Unfortunately, these reports don’t include much else in the way of details. That includes no idea of who the potential buyer is or how much they would pay for the mobile software security company.
While the details are lacking, that doesn’t mean analysts aren’t already chiming in on possibilities. Raymond James analyst Robert Majek is among them, saying that a private acquisition of the company could make sense for several buyers. However, he doesn’t know who is going after MOBL.
What Majek does weigh in on is a possible price range for a MobileIron acquisition. The analyst believes that the company would be worth picking up if the buyer pays between $7.50 per share and $9.00 per share for MOBL stock, reports TheFly.
The Raymond James analyst notes that MobileIron could be a good deal at that price due to its high recurring revenue streams. MOBL’s revenue has been steadily increasing over the last few years and it finished up 2019 with revenue of $19.8 billion. It’s also worth pointing out that MobileIron currently has a market capitalization of $648 million.
MOBL stock was up 19.8% as of Friday afternoon and is up 15.7% year-to-date as of Thursday’s close.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
