$11.18 Million in Sales Expected for Smith Micro Software, Inc. (NASDAQ:SMSI) This Quarter

Equities research analysts expect Smith Micro Software, Inc. (NASDAQ:SMSI) to post sales of $11.18 million for the current quarter, Zacks reports. Two analysts have made estimates for Smith Micro Software’s earnings, with the highest sales estimate coming in at $11.25 million and the lowest estimate coming in at $11.10 million. Smith Micro Software posted sales of $6.53 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 71.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Smith Micro Software will report full-year sales of $41.79 million for the current year, with estimates ranging from $41.40 million to $42.07 million. For the next financial year, analysts expect that the company will post sales of $50.23 million, with estimates ranging from $48.80 million to $52.48 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Smith Micro Software.

Smith Micro Software (NASDAQ:SMSI) last released its earnings results on Thursday, July 25th. The software maker reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Smith Micro Software had a return on equity of 26.71% and a net margin of 15.99%. The firm had revenue of $10.85 million for the quarter, compared to the consensus estimate of $8.65 million.

A number of research firms recently issued reports on SMSI. Zacks Investment Research cut Smith Micro Software from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 26th. B. Riley assumed coverage on Smith Micro Software in a report on Friday, July 19th. They issued a “buy” rating and a $5.00 target price for the company. ValuEngine cut Smith Micro Software from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Smith Micro Software in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $4.58.

SMSI traded up $0.16 during trading hours on Monday, reaching $6.25. 390,448 shares of the company’s stock traded hands, compared to its average volume of 480,933. The firm has a 50-day moving average price of $5.70 and a 200 day moving average price of $4.20. Smith Micro Software has a 52-week low of $1.62 and a 52-week high of $6.90. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $215.43 million, a PE ratio of -44.65 and a beta of 0.39.

In other news, CFO Timothy C. Huffmyer sold 42,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $5.48, for a total value of $230,160.00. Following the completion of the transaction, the chief financial officer now directly owns 239,343 shares of the company’s stock, valued at approximately $1,311,599.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas G. Campbell sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $6.19, for a total value of $123,800.00. Following the completion of the transaction, the director now directly owns 37,000 shares of the company’s stock, valued at $229,030. The disclosure for this sale can be found here. Insiders own 24.79% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Smith Micro Software by 26.2% during the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock worth $2,839,000 after purchasing an additional 194,019 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Smith Micro Software by 14.4% during the 2nd quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock worth $1,268,000 after purchasing an additional 52,439 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Smith Micro Software by 3.4% during the 2nd quarter. Acadian Asset Management LLC now owns 109,336 shares of the software maker’s stock worth $332,000 after purchasing an additional 3,623 shares during the last quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.

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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