Smith Micro Software, Inc. (NASDAQ:SMSI) Given $5.00 Average Target Price by Brokerages

Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus target price of $5.00 for the company and are predicting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also given Smith Micro Software an industry rank of 75 out of 256 based on the ratings given to its competitors.

Several brokerages have recently commented on SMSI. ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. B. Riley increased their price target on shares of Royal Gold from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Chardan Capital reiterated a “buy” rating on shares of Moderna Inc (NASDAQ) in a research report on Sunday, April 7th. Finally, TheStreet lowered shares of USD Partners from a “b-” rating to a “c+” rating in a research report on Friday, May 10th.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Smith Micro Software by 4.3% in the fourth quarter. BlackRock Inc. now owns 368,229 shares of the software maker’s stock worth $663,000 after purchasing an additional 15,165 shares during the period. Northern Trust Corp increased its stake in Smith Micro Software by 54.4% during the fourth quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock valued at $58,000 after acquiring an additional 11,432 shares during the period. FNY Investment Advisers LLC bought a new position in Smith Micro Software during the first quarter valued at about $106,000. Finally, Acadian Asset Management LLC increased its stake in Smith Micro Software by 75.8% during the first quarter. Acadian Asset Management LLC now owns 105,713 shares of the software maker’s stock valued at $296,000 after acquiring an additional 45,590 shares during the period. Institutional investors and hedge funds own 7.20% of the company’s stock.

Shares of SMSI traded up $0.13 during mid-day trading on Tuesday, hitting $3.23. 359,346 shares of the company’s stock were exchanged, compared to its average volume of 71,206. Smith Micro Software has a 52 week low of $1.62 and a 52 week high of $3.48. The stock has a 50-day moving average of $3.02. The stock has a market capitalization of $103.58 million, a price-to-earnings ratio of 46.14 and a beta of 0.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.43 and a current ratio of 3.43.

Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Smith Micro Software had a negative net margin of 1.06% and a positive return on equity of 16.96%. The company had revenue of $8.43 million for the quarter, compared to analysts’ expectations of $7.80 million. Sell-side analysts forecast that Smith Micro Software will post 0.06 earnings per share for the current year.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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