StockNews.com Begins Coverage on Smith Micro Software (NASDAQ:SMSI)

StockNews.com initiated coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a report issued on Sunday. The firm issued a hold rating on the software maker’s stock.

Separately, Benchmark cut their price target on shares of Smith Micro Software from $28.00 to $20.00 and set a buy rating for the company in a report on Friday, March 22nd.

Smith Micro Software Stock Performance

Shares of Smith Micro Software stock opened at $1.93 on Friday. The company has a market cap of $18.55 million, a P/E ratio of -0.65 and a beta of 0.64. Smith Micro Software has a one year low of $1.88 and a one year high of $14.96. The firm has a fifty day moving average of $3.66 and a two-hundred day moving average of $5.91.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.16). The firm had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.86 million. Smith Micro Software had a negative return on equity of 13.46% and a negative net margin of 59.70%. During the same quarter in the previous year, the company posted ($0.80) EPS. As a group, equities analysts predict that Smith Micro Software will post -1.6 earnings per share for the current year.

Hedge Funds Weigh In On Smith Micro Software

A number of large investors have recently made changes to their positions in the stock. UBS Group AG increased its holdings in shares of Smith Micro Software by 3.1% in the 1st quarter. UBS Group AG now owns 151,701 shares of the software maker’s stock valued at $572,000 after purchasing an additional 4,501 shares in the last quarter. Rhumbline Advisers increased its holdings in Smith Micro Software by 8.9% during the 1st quarter. Rhumbline Advisers now owns 55,544 shares of the software maker’s stock valued at $209,000 after acquiring an additional 4,538 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Smith Micro Software by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 132,181 shares of the software maker’s stock valued at $499,000 after acquiring an additional 5,805 shares in the last quarter. BlackRock Inc. increased its holdings in Smith Micro Software by 1.7% during the 1st quarter. BlackRock Inc. now owns 529,250 shares of the software maker’s stock valued at $614,000 after acquiring an additional 8,816 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Smith Micro Software during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa. The company offers SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service provides deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language voice-to-text (VTT) transcription messaging.