Analysts Anticipate Smith Micro Software, Inc. (NASDAQ:SMSI) Will Announce Quarterly Sales of $11.94 Million

Wall Street analysts predict that Smith Micro Software, Inc. (NASDAQ:SMSI) will post $11.94 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Smith Micro Software’s earnings, with estimates ranging from $11.80 million to $12.08 million. Smith Micro Software reported sales of $7.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 62.4%. The business is scheduled to report its next earnings results on Wednesday, March 11th.

On average, analysts expect that Smith Micro Software will report full year sales of $42.98 million for the current financial year, with estimates ranging from $42.80 million to $43.15 million. For the next fiscal year, analysts expect that the business will post sales of $53.21 million, with estimates ranging from $51.80 million to $54.62 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Smith Micro Software.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Smith Micro Software had a net margin of 25.64% and a return on equity of 32.55%. The firm had revenue of $11.78 million during the quarter, compared to analysts’ expectations of $11.18 million.

SMSI has been the subject of several recent analyst reports. B. Riley set a $8.50 target price on shares of Smith Micro Software and gave the company a “buy” rating in a research note on Monday, October 21st. Zacks Investment Research cut Smith Micro Software from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, ValuEngine downgraded Smith Micro Software from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.75.

Shares of Smith Micro Software stock traded down $0.26 during trading on Monday, hitting $4.75. 461,656 shares of the stock were exchanged, compared to its average volume of 426,986. The company has a current ratio of 6.96, a quick ratio of 6.96 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $4.37 and a 200-day moving average price of $4.97. The stock has a market capitalization of $192.90 million, a price-to-earnings ratio of 16.38 and a beta of 0.25. Smith Micro Software has a 1-year low of $1.70 and a 1-year high of $6.90.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new stake in Smith Micro Software during the 4th quarter valued at $54,000. Millennium Management LLC bought a new position in Smith Micro Software during the third quarter worth $1,187,000. Barclays PLC boosted its position in Smith Micro Software by 135,303.7% during the third quarter. Barclays PLC now owns 36,559 shares of the software maker’s stock worth $198,000 after purchasing an additional 36,532 shares during the period. Vanguard Group Inc. increased its holdings in shares of Smith Micro Software by 26.2% in the second quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after purchasing an additional 194,019 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Smith Micro Software by 14.4% in the second quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock valued at $1,268,000 after purchasing an additional 52,439 shares during the last quarter. Institutional investors and hedge funds own 16.19% of the company’s stock.

Smith Micro Software Company Profile

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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