Smith Micro Software (NASDAQ:SMSI) Stock Price Expected to Rise, Benchmark Analyst Says

Smith Micro Software (NASDAQ:SMSI) had its price target raised by research analysts at Benchmark from $2.00 to $2.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Benchmark’s price objective suggests a potential upside of 181.53% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Smith Micro Software in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.50.

Smith Micro Software Price Performance

NASDAQ:SMSI opened at $0.89 on Friday. The company has a market capitalization of $22.74 million, a P/E ratio of -0.64 and a beta of 0.49. Smith Micro Software has a 1 year low of $0.41 and a 1 year high of $1.30. The business has a fifty day simple moving average of $0.71 and a two-hundred day simple moving average of $0.64.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $3.97 million during the quarter, compared to the consensus estimate of $4.30 million. Smith Micro Software had a negative net margin of 165.35% and a negative return on equity of 54.47%. As a group, analysts anticipate that Smith Micro Software will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Smith Micro Software

Several hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP increased its holdings in Smith Micro Software by 109.2% during the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock worth $31,000 after acquiring an additional 22,335 shares during the period. DRW Securities LLC purchased a new position in shares of Smith Micro Software during the 4th quarter valued at $40,000. Renaissance Technologies LLC grew its position in shares of Smith Micro Software by 41.7% during the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after purchasing an additional 32,604 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Smith Micro Software by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after purchasing an additional 30,410 shares during the period. Hedge funds and other institutional investors own 20.80% of the company’s stock.

About Smith Micro Software

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.