Smith Micro Software (SMSI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a buy rating in a report published on Saturday. Zacks Investment Research currently has $2.50 price target on the software maker’s stock.

According to Zacks, “Smith Micro Software, Inc. develops and sells communications software for personal and business use. The company’s objective is to enhance human interaction by giving users the ability to communicate through multimedia technologies over analog and digital platforms. Smith Micro’s products enable personal communication through telephony, fax, multimedia email, data, paging, video security and video conferencing. “

Separately, Roth Capital began coverage on shares of Smith Micro Software in a research report on Monday, October 1st. They issued a buy rating and a $4.00 price target for the company.

Shares of SMSI stock opened at $2.17 on Friday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 0.94. Smith Micro Software has a 52 week low of $1.45 and a 52 week high of $3.41.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Wednesday, October 24th. The software maker reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Smith Micro Software had a negative net margin of 23.11% and a negative return on equity of 71.14%. The company had revenue of $6.53 million during the quarter, compared to analysts’ expectations of $6.10 million. Research analysts anticipate that Smith Micro Software will post -0.25 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Smith Micro Software by 71.6% during the 3rd quarter. Vanguard Group Inc. now owns 605,031 shares of the software maker’s stock valued at $1,525,000 after purchasing an additional 252,500 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Smith Micro Software during the 3rd quarter valued at $122,000. BlackRock Inc. boosted its stake in Smith Micro Software by 13.1% during the 2nd quarter. BlackRock Inc. now owns 351,215 shares of the software maker’s stock valued at $804,000 after purchasing an additional 40,629 shares during the last quarter. Finally, UBS Group AG boosted its stake in Smith Micro Software by 1,500.7% during the 1st quarter. UBS Group AG now owns 60,250 shares of the software maker’s stock valued at $105,000 after purchasing an additional 56,486 shares during the last quarter. 11.58% of the stock is owned by institutional investors.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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