Maxim Group Reaffirms Their Buy Rating on iPass

By Jason Carr

In a report released today, Brian Kinstlinger from Maxim Group reiterated a Buy rating on iPass (NASDAQ: IPAS), with a price target of $2. The company’s shares closed yesterday at $0.58, close to its 52-week low of $0.51.

Kinstlinger said:

“Mobilise, an IPAS value added reseller to the Mobile Virtual Network Operator (MVNO) market, will deliver unlimited WiFi service to German-based mobilcom-debitel.”

According to, Kinstlinger is a 3-star analyst with an average return of 1.7% and a 53.5% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Applied DNA Sciences, Caci International, and Tyler Technologies.

iPass has an analyst consensus of Moderate Buy, with a price target consensus of $2.

Based on iPass’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $13.47 million and GAAP net loss of $5.27 million. In comparison, last year the company earned revenue of $16.5 million and had a GAAP net loss of $1.38 million.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IPAS in relation to earlier this year.

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iPass, Inc. provides Wi-Fi roaming services for enterprise employees and service provider subscribers. The company operates through the Mobility Services segment. The Mobility Services segment offers open mobile enterprise and open mobile exchange services.