Piper Jaffray Discusses Earnings From Sky-mobi (MOBI)

Piper Jaffray is out with a research report on Sky-mobi MOBI after it reported earnings. It has an Overweight rating and a $15 price target on shares. In a note to investors, Piper Jaffray writes, "Sky-mobi reported March quarter (Fiscal Q4) revenue of $27.1 million compared to the Street at $24.9 million and PF EPS of $0.01 compared to the Street at $0.04. Guidance was in-line with a revenue mid-point for the June quarter of $24.2 million compared to the Street at $24.2 million. While we believe shares may be down as investors likely hoped for a raise from guidance, we maintain our $15 price target. We expect to update investors following Sky-mobi's 8AM ET conference call." Shares of MOBI closed at $14.80 on Friday.