Brokerages Anticipate Smith Micro Software, Inc. (NASDAQ:SMSI) Will Announce Quarterly Sales of $17.09 Million

Equities research analysts expect Smith Micro Software, Inc. (NASDAQ:SMSI) to report sales of $17.09 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Smith Micro Software’s earnings, with the highest sales estimate coming in at $17.20 million and the lowest estimate coming in at $16.98 million. Smith Micro Software posted sales of $12.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The business is expected to announce its next earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Smith Micro Software will report full year sales of $62.33 million for the current year, with estimates ranging from $61.82 million to $63.10 million. For the next financial year, analysts expect that the company will post sales of $81.66 million, with estimates ranging from $79.26 million to $83.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Smith Micro Software.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings results on Wednesday, August 4th. The software maker reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $15.92 million during the quarter, compared to analyst estimates of $15.46 million. Smith Micro Software had a negative net margin of 14.69% and a negative return on equity of 0.36%.

SMSI has been the subject of several research analyst reports. Zacks Investment Research raised shares of Smith Micro Software from a “sell” rating to a “hold” rating in a research report on Wednesday, September 1st. Dawson James initiated coverage on shares of Smith Micro Software in a research report on Thursday, August 5th. They issued a “buy” rating and a $11.10 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Smith Micro Software presently has an average rating of “Buy” and an average price target of $9.65.

In other Smith Micro Software news, Director Thomas G. Campbell sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $4.84, for a total transaction of $96,800.00. Following the completion of the transaction, the director now directly owns 37,000 shares of the company’s stock, valued at approximately $179,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William W. Smith, Jr. sold 537,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $4.65, for a total transaction of $2,497,050.00. Following the sale, the chief executive officer now directly owns 3,942,451 shares in the company, valued at approximately $18,332,397.15. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SMSI. BlackRock Inc. grew its stake in Smith Micro Software by 20.6% in the 2nd quarter. BlackRock Inc. now owns 2,687,778 shares of the software maker’s stock valued at $14,030,000 after acquiring an additional 459,702 shares during the period. Vanguard Group Inc. grew its stake in Smith Micro Software by 21.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,500,575 shares of the software maker’s stock valued at $13,053,000 after acquiring an additional 442,279 shares during the period. Pacific Ridge Capital Partners LLC grew its stake in Smith Micro Software by 37.9% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,762,647 shares of the software maker’s stock valued at $9,201,000 after acquiring an additional 484,870 shares during the period. Morgan Stanley grew its stake in Smith Micro Software by 3,588.9% in the 1st quarter. Morgan Stanley now owns 971,281 shares of the software maker’s stock valued at $5,347,000 after acquiring an additional 944,951 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in Smith Micro Software in the 1st quarter valued at $4,817,000. 35.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of SMSI stock traded up $0.10 during mid-day trading on Friday, hitting $4.71. 162,864 shares of the stock traded hands, compared to its average volume of 527,003. The stock has a market cap of $252.20 million, a P/E ratio of -29.44 and a beta of 0.73. The stock’s fifty day moving average is $5.05 and its two-hundred day moving average is $5.35. Smith Micro Software has a 52-week low of $3.50 and a 52-week high of $8.05.

Smith Micro Software Company Profile

Smith Micro Software, Inc engages in the provision of software solutions. It operates through Wireless segment. The Wireless segment refers to wireless internet solutions to access information and entertainment anytime and anywhere. Its products include SafePath Family, SafePath IoT, SafePath Home, CommSuite VVM, CommSuite VTT, and ViewSpot.

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