Brokers expect Smith Micro Software, Inc. (NASDAQ:SMSI) to achieve $15.23 million in revenue for the current fiscal quarter, Zacks reports. Three analysts provided earnings estimates for Smith Micro Software, with the highest sales estimate of $15.30 million and the lowest estimate of $15.17 million. Smith Micro Software reported sales of $12.42 million in the same quarter last year, indicating a positive year-over-year growth rate of 22.6%. The company is expected to release its next quarterly earnings report on Monday, March 14.
According to Zacks, analysts expect Smith Micro Software to report annual sales of $58.99 million for the current fiscal year, with estimates ranging from $58.92 million to $59.10 million. . For the next fiscal year, analysts expect the company to post sales of $63.35 million, with estimates ranging from $63.01 million to $64.00 million. Zacks Investment Research sales averages are an average average based on a survey of analysts who cover Smith Micro Software.
Smith Micro Software Inc (NASDAQ:SMSI) last released its quarterly earnings data on Wednesday, November 10. The software maker reported ($0.02) EPS for the quarter, meeting analyst consensus estimates of ($0.02). The company posted revenue of $16.44 million in the quarter, versus a consensus estimate of $17.05 million. Smith Micro Software had a negative return on equity of 2.92% and a negative net margin of 47.11%.
A number of research analysts have published reports on the company. Zacks Investment Research upgraded Smith Micro Software from a “sell” to a “hold” rating in a Friday, November 19 research note. TheStreet upgraded Smith Micro Software from a “c-” to a “d+” rating in a Thursday, January 27 research note. One research analyst rated the stock with a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.65.
NASDAQ: WSIS opened at $4.12 on Wednesday. Smith Micro Software has a 1 year minimum of $3.75 and a 1 year maximum of $8.05. The company has a market capitalization of $224.81 million, a PE ratio of -8.24 and a beta of 0.69. The company has a 50-day simple moving average of $4.79.
In other news, CEO William W.Smith, Jr. sold 110,000 shares of the company in a transaction dated Tuesday, December 7. The stock was sold at an average price of $5.33, for a total transaction of $586,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 14.42% of the shares are held by company insiders.
Several hedge funds have recently bought and sold shares of SMSI. Pacific Ridge Capital Partners LLC increased its stake in Smith Micro Software by 37.9% during the second quarter. Pacific Ridge Capital Partners LLC now owns 1,762,647 shares of the software maker worth $9,201,000 after acquiring an additional 484,870 shares last quarter. State Street Corp increased its stake in Smith Micro Software by 11.0% in the second quarter. State Street Corp now owns 584,256 shares of the software maker valued at $3,050,000 after purchasing an additional 57,911 shares during the period. First Trust Advisors LP increased its stake in Smith Micro Software by 24.3% in the second quarter. First Trust Advisors LP now owns 112,108 shares of the software maker valued at $585,000 after buying an additional 21,948 shares during the period. Cito Capital Group LLC increased its stake in Smith Micro Software by 5.5% in the third quarter. Cito Capital Group LLC now owns 58,000 shares of the software maker valued at $281,000 after purchasing an additional 3,000 shares during the period. Finally, PEAK6 Investments LLC acquired a new stake in Smith Micro Software in the second quarter worth approximately $90,000. 32.90% of the shares are held by institutional investors.
About Smith Micro Software
Smith Micro Software, Inc is committed to providing software solutions. It operates through the wireless segment. The Wireless segment refers to wireless Internet solutions for accessing information and entertainment anytime and anywhere. Its products include SafePath Family, SafePath IoT, SafePath Home, CommSuite VVM, CommSuite VTT and ViewSpot.
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