In a report released yesterday, James McIlree from Chardan Capital reiterated a Buy rating on Smith Micro Software (SMSI), with a price target of $5. The company’s shares closed yesterday at $2.90.
McIlree observed:
“We believe that this is an important step for Smith Micro as it cements the Safe & Found service within Sprint, potentially accelerates the shut off of the Location Labs service and forces migration to Safe & Found, increases the potential for upside to our revenue estimates in the back-end of this year and into 2020 and could result in additional incentive for other carriers to adopt Smith’s Safe Path offering.”
According to TipRanks.com, McIlree is a 1-star analyst with an average return of -4.4% and a 38.6% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Foresight Autonomous Holdings Ltd, Vuzix Corporation, and KEYW Holding.
Smith Micro Software has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Based on Smith Micro Software’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $48K. In comparison, last year the company had a GAAP net loss of $2.38 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.
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Smith Micro Software, Inc. engages in the provision of software solutions. It operates through Wireless and Graphics segments. The Wireless segment refers to wireless internet solutions to access information and entertainment anytime and anywhere.
