MobileIron Inc (MOBL) shares are up almost 10% on Monday following a positive research note from Deutsche Bank (DB).
Apple’s (AAPL) iOS 8 enterprise service offerings in the mobile device management and security space should motivate companies to move away from BlackBerry (BBRY) devices in favor of Apple’s iPhone, according to Deutsche Bank analyst Karl Keirstead. Such a move should help corporate networks software maker MobileIron, the analyst said.
Keristead wrote that a mobile IT head at one large enterprise is “planning a partial migration away from BlackBerry,” citing concerns about BlackBerry’s ongoing ability to invest at scale to support new devices, the platform’s weak app ecosystem compared to Apple’s iOS, and end user preference, “believing that most employees prefer iPhones (in the 2Q14 data from IDC, BlackBerry garnered just 1.5% share of total unit shipments).”
Keristead also said that BlackBerry’s ‘BES12’, a new MDM device management system for all smartphones, may not prevent companies from switching to MobileIron or Citrix Systems (CTXS) or another software vendor for device management.
Keirstead reiterated a ‘Buy’ rating and a $14 price target on MOBL, which represents expected upside of 36.58% to the stock’s current price of $10.25. In the past 52 weeks, shares of MobileIron Inc have traded between a low of $7.64 and a high of $11.74.
The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.
MobileIron, Inc. develops and provides an IT platform for enterprises to secure and manage mobile apps, content, and devices. The firm was founded in 2007 and is headquartered in Mountain View, California.