Zacks Investment Research Downgrades Smith Micro Software (SMSI) to Sell

Zacks Investment Research downgraded shares of Smith Micro Software (NASDAQ:SMSI) from a buy rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also recently weighed in on SMSI. TheStreet raised shares of Smith Micro Software from a d rating to a c- rating in a report on Friday, May 10th. ValuEngine raised shares of Smith Micro Software from a hold rating to a buy rating in a report on Saturday, May 4th. Finally, Chardan Capital assumed coverage on shares of Smith Micro Software in a report on Sunday, April 7th. They issued a buy rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Smith Micro Software currently has a consensus rating of Buy and an average target price of $3.67.

NASDAQ:SMSI traded up $0.03 during mid-day trading on Wednesday, hitting $3.27. The stock had a trading volume of 458 shares, compared to its average volume of 196,473. The stock has a market cap of $105.01 million, a price-to-earnings ratio of -23.50 and a beta of 0.33. Smith Micro Software has a twelve month low of $1.62 and a twelve month high of $3.48.

Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $8.43 million for the quarter, compared to analysts’ expectations of $7.80 million. Smith Micro Software had a negative net margin of 1.06% and a positive return on equity of 24.68%. On average, research analysts predict that Smith Micro Software will post 0.06 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of SMSI. Virtu Financial LLC acquired a new stake in Smith Micro Software during the fourth quarter worth approximately $53,000. Northern Trust Corp raised its holdings in Smith Micro Software by 54.4% during the fourth quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock worth $58,000 after purchasing an additional 11,432 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Smith Micro Software during the first quarter worth approximately $106,000. Acadian Asset Management LLC acquired a new stake in Smith Micro Software during the fourth quarter worth approximately $108,000. Finally, Renaissance Technologies LLC acquired a new stake in Smith Micro Software during the first quarter worth approximately $115,000. 6.91% of the stock is currently owned by hedge funds and other 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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