Phunware’s (PHUN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Phunware (NASDAQ:PHUN) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $12.00 target price on the stock. HC Wainwright also issued estimates for Phunware’s Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.36) EPS, FY2024 earnings at ($1.44) EPS and FY2025 earnings at ($1.35) EPS.

Several other brokerages have also issued reports on PHUN. Ascendiant Capital Markets reduced their price target on Phunware from $75.00 to $25.00 and set a buy rating for the company in a report on Monday, April 1st. Roth Mkm reiterated a buy rating and set a $20.00 price target (down from $25.00) on shares of Phunware in a report on Wednesday, March 13th.

Phunware Stock Down 0.4 %

Shares of NASDAQ PHUN opened at $6.84 on Monday. Phunware has a one year low of $3.50 and a one year high of $33.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.77 and a current ratio of 2.77. The business has a 50-day moving average price of $7.65 and a two-hundred day moving average price of $8.66.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05. The firm had revenue of $0.92 million during the quarter, compared to analyst estimates of $1.15 million. Phunware had a negative return on equity of 403.47% and a negative net margin of 257.36%. During the same period last year, the company posted ($3.50) EPS. As a group, equities analysts expect that Phunware will post -1.47 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new position in Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned 0.12% of Phunware as of its most recent SEC filing. 7.57% of the stock is currently owned by institutional investors.

Phunware Company Profile

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.