Zacks: Smith Micro Software Inc. (NASDAQ:SMSI) Given Average Rating of “Buy” by Brokerages
Smith Micro Software Inc. (NASDAQ:SMSI) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a 12 month consensus price target of $6.00 for the company and are expecting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned Smith Micro Software an industry rank of 148 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research downgraded shares of Smith Micro Software from a “buy” rating to a “hold” rating in a research note on Friday, September 9th.
A number of institutional investors have recently added to or reduced their stakes in SMSI. Renaissance Technologies LLC increased its position in Smith Micro Software by 6.5% in the first quarter. Renaissance Technologies LLC now owns 799,600 shares of the company’s stock valued at $472,000 after buying an additional 48,800 shares in the last quarter. Check Capital Management Inc. CA bought a new position in Smith Micro Software during the first quarter valued at about $101,000. Finally, Miracle Mile Advisors LLC bought a new position in Smith Micro Software during the second quarter valued at about $435,000. Institutional investors own 37.17% of the company’s stock.
Smith Micro Software (NASDAQ:SMSI) traded down 8.0980% during trading on Friday, hitting $2.2516. The company’s stock had a trading volume of 46,797 shares. Smith Micro Software has a one year low of $1.80 and a one year high of $3.80. The firm’s market cap is $27.75 million. The company has a 50-day moving average of $2.46 and a 200 day moving average of $2.61.
Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Monday, July 25th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm earned $7.50 million during the quarter, compared to the consensus estimate of $7.70 million. Smith Micro Software had a negative net margin of 24.35% and a negative return on equity of 50.49%. On average, equities analysts forecast that Smith Micro Software will post ($0.48) earnings per share for the current year.
Smith Micro Software Company Profile
Smith Micro Software, Inc is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Smith Micro Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith Micro Software Inc. and related companies with MarketBeat.com's FREE daily email newsletter.