Smith Micro Software, Inc. (NASDAQ:SMSI) has been assigned a consensus “Buy” recommendation by the six research firms that currently cover the stock, reports MarketBeat Ratings. One investment analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The 1-year average price target among analysts who have covered the stock over the past year is $9.65.
Separately, Zacks Investment Research upgraded shares of Smith Micro Software from a “sell” rating to a “hold” rating in a Friday, Nov. 19, report.
Smith Micro Software Stock opened at $3.90 on Thursday. The company has a 50-day moving average price of $4.95. The company has a market capitalization of $212.80 million, a price-earnings ratio of -7.80 and a beta of 0.69. Smith Micro Software has a 12 month minimum of $3.75 and a 12 month maximum of $8.05.
Smith Micro Software Inc (NASDAQ:SMSI) last reported earnings on Wednesday, November 10. The software maker reported ($0.02) earnings per share (EPS) for the quarter, meeting Thomson Reuters consensus estimate of ($0.02). The company posted revenue of $16.44 million in the quarter, versus analyst estimates of $17.05 million. Smith Micro Software had a negative net margin of 47.11% and a negative return on equity of 2.92%. Analysts expect Smith Micro Software to post -0.12 earnings per share for the current fiscal year.
In other news, CEO William W.Smith, Jr. sold 110,000 shares of the company in a transaction dated Tuesday, December 7. The shares were sold at an average price of $5.33, for a total value of $586,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this link. Insiders hold 14.42% of the company’s shares.
Institutional investors have recently changed their stake in the company. Pacific Ridge Capital Partners LLC increased its position in Smith Micro Software shares by 37.9% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,762,647 shares of the software maker worth $9,201,000 after buying an additional 484,870 shares in the last quarter. State Street Corp increased its position in Smith Micro Software shares by 11.0% in the second quarter. State Street Corp now owns 584,256 shares of the software maker worth $3,050,000 after buying an additional 57,911 shares in the last quarter. First Trust Advisors LP increased its position in Smith Micro Software shares by 24.3% in the second quarter. First Trust Advisors LP now owns 112,108 shares of the software maker worth $585,000 after buying 21,948 more shares in the last quarter. Cito Capital Group LLC increased its position in Smith Micro Software by 5.5% during the third quarter. Cito Capital Group LLC now owns 58,000 shares of the software maker worth $281,000 after buying an additional 3,000 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in Smith Micro Software during Q2 worth approximately $90,000. 32.90% of the shares are currently held by hedge funds and other 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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