Phunware (NASDAQ:PHUN) Price Target Raised to $12.50 at Ascendiant Capital Markets

Phunware (NASDAQ:PHUN - Get Free Report) had its price objective increased by investment analysts at Ascendiant Capital Markets from $12.00 to $12.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Ascendiant Capital Markets' target price suggests a potential upside of 284.62% from the stock's current price.

Several other analysts also recently weighed in on the company. Roth Capital set a $4.50 target price on Phunware in a research note on Monday, March 24th. HC Wainwright decreased their target price on Phunware from $6.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, March 24th.

Phunware Stock Up 0.6%

Shares of PHUN traded up $0.02 during trading hours on Friday, hitting $3.25. 306,795 shares of the company were exchanged, compared to its average volume of 2,272,416. The company has a market cap of $65.56 million, a PE ratio of -4.01 and a beta of 2.35. The firm's 50 day moving average is $2.87 and its 200-day moving average is $3.66. Phunware has a 52 week low of $2.22 and a 52 week high of $14.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80.

Phunware (NASDAQ:PHUN - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.60 million. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. On average, equities research analysts forecast that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Trading of Phunware

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. bought a new stake in Phunware during the 1st quarter valued at approximately $30,000. Atria Wealth Solutions Inc. bought a new stake in Phunware during the 1st quarter valued at approximately $30,000. Millennium Management LLC bought a new stake in shares of Phunware in the 4th quarter worth approximately $57,000. Jane Street Group LLC lifted its position in shares of Phunware by 2,255.3% in the 1st quarter. Jane Street Group LLC now owns 11,811 shares of the company's stock worth $35,000 after acquiring an additional 12,359 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Phunware in the 4th quarter worth approximately $85,000. Institutional investors own 7.57% of the company's stock.

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.