MobileIron Shares Get a Confidence Boost After Firm Recognized as Zero Trust eXtended Ecosystem Platform Leader

Source: Streetwise Reports   09/25/2020

Shares of MobileIron Inc. traded 18% higher after the company reported it has been recognized as a leading Zero Trust eXtended Ecosystem Platform Provider by independent research firm Forrester Wave™.

MobileIron Inc. (MOBL:NASDAQ) yesterday announced that it has been “ranked as a Leader in The Forrester Wave™: Zero Trust eXtended Ecosystem Platform Providers, Q3 2020 report.” MobileIron, which gears its platform to the “Everywhere Enterprise”, reported that it was awarded the highest scores possible in the areas of APIs, people/workforce security, workload security, ZTX roadmap and differentiation and ZTX advocacy criteria.

The company highlighted several comments made in the report by The Forrester Wave™. The report mentioned specifically that, “MobileIron is the one vendor in the Zero Trust space that is focused on applying Zero Trust and ZTX concepts to enterprise users’ mobile devices. This has never been more necessary than in the full-on remote world that is the result of the COVID-19 pandemic. In early 2020, MobileIron purchased a mobile app automation software company named Incapptic Connect. This was a boon to its Zero Trust capabilities as it helps enterprise customers accelerate mobile app releases with more built-in security functionality.”

The firm advised that Forrester Wave evaluated select vendors across a set of 19 evaluation metrics and categories in the areas of current offering, market presence and strategy. The company noted that the report concluded that “MobileIron is a leader in the #killthepassword space and has successfully deployed passwordless capabilities to select customers in a variety of enterprises.”

The company’s SVP of Product Management Brian Foster commented, “Being named a Leader in Zero Trust from Forrester Research is a testament to our platform’s ability to help organizations secure corporate data on any device, for any employee, working from anywhere they need to do their job…We are committed to delivering the best user experience while significantly reducing the risk of data breaches. We look forward to continuing to help our customers secure their digital workplaces as they adapt to the future of work, in which employees, IT infrastructures and customers are everywhere – and mobile devices provide access to everything.”

The firm added that as businesses continue to roll out bring your own device strategies and the Everywhere Enterprise workplace model, “they are turning towards MobileIron to implement a mobile-centric zero trust approach to security.” The company indicated that a zero trust approach by default assumes that bad actors are already present in the network and secure access is protected and determined by a “never trust, always verify” approach to security.

MobileIron explained that its zero trust approach addresses security challenges resulting from perimeter-less enterprise activities and provides the agility and anytime access required in modern day business operations. The firm stated that its platform offers “the visibility and IT controls needed to secure, manage and monitor every device, user, app, and network being used to access business data.”

MobileIron advised that its platform combines unified endpoint management capabilities, passwordless multi-factor authentication and mobile threat defense technologies in order to validate devices, verify users and networks, and detect and remediate threats from unauthorized users and hostile intrusions. The company is headquartered in Mountain View, Calif., and noted that it provides its services to more than 20,000 organizations worldwide including some of the world’s largest financial institutions and intelligence agencies.

MobileIron Inc. started the day with a market capitalization of around $647.5 million with approximately 116.9 million shares outstanding and a short interest of about 2.6%. MOBL shares opened more than 9% higher today at $6.06 (+$0.52, +9.39%) over yesterday’s $5.54 closing price. The stock has traded today between $5.78 and $6.80 per share and is currently trading at $6.55 (+$1.01, +18.23%).

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