Smith Micro Software (SMSI) Receives a Buy from B.Riley FBR
In a report released today, Josh Nichols from B.Riley FBR reiterated a Buy rating on Smith Micro Software (SMSI), with a price target of $8.50. The company’s shares closed last Monday at $6.30, close to its 52-week high of $6.90.
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 10.6% and a 38.3% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, PowerFleet Inc, and Horizon Global.
Currently, the analyst consensus on Smith Micro Software is a Moderate Buy with an average price target of $8.00.
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Based on Smith Micro Software’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $3.44 million. In comparison, last year the company had a GAAP net loss of $983K.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMSI in relation to earlier this year.
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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.