Smith Micro Software (NASDAQ:SMSI) Upgraded to “Buy” at Zacks Investment Research

Smith Micro Software (NASDAQ:SMSIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has a $3.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.28% from the company’s previous close.

According to Zacks, “Smith Micro Software, Inc. develops and sells communications software for personal and business use. The company’s objective is to enhance human interaction by giving users the ability to communicate through multimedia technologies over analog and digital platforms. Smith Micro’s products enable personal communication through telephony, fax, multimedia email, data, paging, video security and video conferencing. “

A number of other analysts have also issued reports on SMSI. TheStreet lowered Smith Micro Software from a “c-” rating to a “d+” rating in a research note on Thursday, January 27th. StockNews.com assumed coverage on Smith Micro Software in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Lake Street Capital decreased their price target on Smith Micro Software from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. B. Riley decreased their price target on Smith Micro Software from $9.50 to $6.25 in a research note on Friday, March 11th. Finally, Dawson James decreased their price target on Smith Micro Software from $11.40 to $8.30 and set a “buy” rating on the stock in a research note on Friday, March 11th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Smith Micro Software has an average rating of “Buy” and an average target price of $5.89.

SMSI opened at $2.58 on Thursday. The firm has a market cap of $142.32 million, a P/E ratio of -4.03 and a beta of 0.88. Smith Micro Software has a 52 week low of $2.45 and a 52 week high of $6.52. The business’s fifty day simple moving average is $3.33 and its 200 day simple moving average is $4.30.

Smith Micro Software (NASDAQ:SMSIGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The software maker reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Smith Micro Software had a negative return on equity of 11.61% and a negative net margin of 58.25%. The business had revenue of $12.74 million for the quarter, compared to analyst estimates of $12.38 million. On average, research analysts forecast that Smith Micro Software will post -0.33 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of Smith Micro Software by 159.6% during the 3rd quarter. Citigroup Inc. now owns 5,493 shares of the software maker’s stock valued at $27,000 after buying an additional 3,377 shares during the period. Royal Bank of Canada raised its holdings in shares of Smith Micro Software by 76.5% during the 3rd quarter. Royal Bank of Canada now owns 6,161 shares of the software maker’s stock valued at $30,000 after buying an additional 2,671 shares during the period. Malaga Cove Capital LLC purchased a new stake in shares of Smith Micro Software during the 1st quarter valued at about $42,000. Squarepoint Ops LLC purchased a new stake in shares of Smith Micro Software during the 3rd quarter valued at about $50,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Smith Micro Software during the 4th quarter valued at about $50,000. Institutional investors own 29.17% of the company’s stock.

Smith Micro Software Company Profile (Get Rating)

Smith Micro Software, Inc develops and sells software to enhance the mobile experience to wireless and cable service providers worldwide. It offers SafePath Family, SafePath IoT, and SafePath Home product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service providers deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language Voice-to-Text transcription messaging.

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