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

Zacks Investment Research upgraded shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. The firm currently has $3.75 target price on the software maker’s stock.

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. “

Several other research analysts also recently weighed in on SMSI. TheStreet downgraded shares of USD Partners from a b- rating to a c+ rating in a report on Friday, May 10th. Chardan Capital restated a buy rating and set a $5.00 price objective on shares of Smith Micro Software in a report on Tuesday, July 23rd. B. Riley set a $6.00 price objective on shares of Intevac and gave the stock a hold rating in a report on Friday, July 19th. Finally, ValuEngine upgraded shares of Zimmer Biomet from a hold rating to a buy rating in a research note on Saturday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $4.44.

SMSI opened at $6.31 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.43 and a current ratio of 3.43. The business’s fifty day simple moving average is $3.32. Smith Micro Software has a 1-year low of $1.62 and a 1-year high of $6.43. The firm has a market capitalization of $202.35 million, a P/E ratio of -45.07 and a beta of 0.34.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Smith Micro Software had a net margin of 15.99% and a return on equity of 31.98%. The firm had revenue of $10.85 million for the quarter, compared to the consensus estimate of $8.65 million. On average, analysts forecast that Smith Micro Software will post 0.06 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Smith Micro Software in the 1st quarter worth $106,000. BlackRock Inc. grew its stake in shares of Smith Micro Software by 4.3% in the 4th quarter. BlackRock Inc. now owns 368,229 shares of the software maker’s stock worth $663,000 after acquiring an additional 15,165 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Smith Micro Software by 75.8% in the 1st quarter. Acadian Asset Management LLC now owns 105,713 shares of the software maker’s stock worth $296,000 after acquiring an additional 45,590 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Smith Micro Software by 54.4% in the 4th quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock worth $58,000 after acquiring an additional 11,432 shares in the last quarter. Hedge funds and other institutional investors own 6.96% of the company’s stock.

About Smith Micro Software

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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