Research Analysts’ Recent Ratings Changes for Smith Micro Software (SMSI)

A number of research firms have changed their ratings and price targets for Smith Micro Software (NASDAQ: SMSI):

• 3/29/2024 – Smith Micro Software is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/22/2024 – Smith Micro Software had its price target lowered by analysts at Benchmark Co. from $3.50 to $2.50. They now have a “buy” rating on the stock.
• 3/21/2024 – Smith Micro Software is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/13/2024 – Smith Micro Software is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/5/2024 – Smith Micro Software is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Smith Micro Software Price Performance

SMSI stock traded up $0.02 during trading hours on Tuesday, reaching $0.35. 412,674 shares of the stock were exchanged, compared to its average volume of 400,762. Smith Micro Software, Inc. has a 12 month low of $0.30 and a 12 month high of $1.87. The firm’s 50-day moving average is $0.58 and its 200-day moving average is $0.81. The company has a market cap of $27.24 million, a price-to-earnings ratio of -0.96 and a beta of 0.64.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $8.59 million for the quarter, compared to the consensus estimate of $8.86 million. Smith Micro Software had a negative return on equity of 13.46% and a negative net margin of 59.70%. During the same period last year, the firm earned ($0.10) earnings per share. As a group, equities research analysts forecast that Smith Micro Software, Inc. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Smith Micro Software during the 4th quarter worth approximately $31,000. Verition Fund Management LLC bought a new stake in shares of Smith Micro Software during the second quarter worth approximately $35,000. XTX Topco Ltd acquired a new position in shares of Smith Micro Software in the second quarter valued at approximately $37,000. Acadian Asset Management LLC bought a new position in shares of Smith Micro Software during the first quarter worth approximately $43,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Smith Micro Software during the 2nd quarter worth approximately $44,000. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, Africa, and internationally. The company 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.