Smith Micro Software (NASDAQ:SMSI) Price Target Raised to $2.50 at Benchmark

Smith Micro Software (NASDAQ:SMSI) had its price target boosted by Benchmark from $2.00 to $2.50 in a report issued on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the software maker’s stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Smith Micro Software in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.50.

Smith Micro Software Stock Down 3.2%

Shares of NASDAQ:SMSI traded down $0.03 during trading on Friday, reaching $0.87. The stock had a trading volume of 140,288 shares, compared to its average volume of 102,763. Smith Micro Software has a 52 week low of $0.41 and a 52 week high of $1.30. The firm has a market capitalization of $22.28 million, a price-to-earnings ratio of -0.63 and a beta of 0.66. The stock has a fifty day simple moving average of $0.71 and a two-hundred day simple moving average of $0.64.

Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Smith Micro Software had a negative return on equity of 54.47% and a negative net margin of 165.35%.The company had revenue of $3.97 million for the quarter, compared to the consensus estimate of $4.30 million. On average, analysts forecast that Smith Micro Software will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Smith Micro Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP increased its holdings in Smith Micro Software by 109.2% in the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after buying an additional 22,335 shares during the period. DRW Securities LLC bought a new stake in Smith Micro Software in the 4th quarter valued at $40,000. Renaissance Technologies LLC increased its holdings in Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after buying an additional 32,604 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Smith Micro Software by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock valued at $115,000 after buying an additional 30,410 shares during the period. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.