Analyst Downgrades: Qualcomm, Las Vegas Sands, MobileIron

Analysts downwardly revised their ratings on QUALCOMM, Inc. (NASDAQ:QCOM), Las Vegas Sands Corp. (NYSE:LVS), and Mobileiron Inc (NASDAQ:MOBL)

by Alex Eppstein

Published on Apr 23, 2015 at 9:25 AM
Updated on Jul 9, 2020 at 3:07 PM

Analysts are weighing in today on telecom concern QUALCOMM, Inc. (NASDAQ:QCOM), gaming issue Las Vegas Sands Corp. (NYSE:LVS), and software firm Mobileiron Inc (NASDAQ:MOBL). Here's a quick roundup of today's bearish brokerage notes on QCOM, LVS, and MOBL.

  • QCOM is staring at a 2.3% pre-market loss, as the company's lowered full-year guidance overshadows a fiscal second-quarter earnings beat. The brokerage bunch is adding insult to injury, as no fewer than 11 analysts reduced their price targets on the shares -- the harshest of which came from Topeka Capital, which lowered its target to $67 from $70. It's been a rough year for QUALCOMM, Inc., which has dropped 7.3% to trade at $68.94, and was recently rejected by its 160-day moving average. Traders have responded accordingly, picking up bearish bets over bullish at a faster-than-usual rate, during the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). QCOM's 10-day put/call volume ratio of 0.98 ranks in the 89th percentile of its annual range.

  • LVS is down 3.4% ahead of the bell, following a disappointing trip to the earnings confessional, and a trio of price-target cuts. Specifically, J.P. Morgan Securities, Stifel, and Sterne Agee each lowered their price targets on the stock, which has lost nearly 28% year-over-year to rest at $56.39. Options traders are bearish toward Las Vegas Sands Corp., too, which has racked up a 10-day ISE/CBOE/PHLX put/call volume ratio of 1.73 -- higher than 97% of comparable readings from the past year.

  • Finally, MOBL offered up underwhelming first-quarter revenue guidance, prompting Raymond James to slash its price target on the stock to $11 from $14. As such, the shares are poised to plunge out of the gate, down nearly 33% in electronic trading -- which would drop Mobileiron Inc. into record-low territory. This represents quite a reversal in fortunes for the equity, which has outperformed the broader S&P 500 Index (SPX) by 12.2 percentage points over the last 40 sessions, and currently sits at $9.50. One group looking forward to the anticipated bear gap is short sellers, as 12.5% of MOBL's float is sold short -- which would take more than eight days to cover, at the security's average daily trading levels.

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