Phunware (NASDAQ:PHUN) Earns "Neutral" Rating from HC Wainwright

Key Points

• HC Wainwright has reiterated a neutral rating for Phunware (NASDAQ:PHUN) with a target price of $3.00, indicating potential upside of 7.53% from its current price.
• Ascendiant Capital Markets has raised its price target for Phunware from $12.00 to $12.50 and assigned a buy rating.
• Phunware reported a loss of $0.16 EPS for the last quarter, missing estimates, and had a negative net margin of 510.83%.

HC Wainwright reissued their neutral rating on shares of Phunware (NASDAQ:PHUN - Free Report) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $3.00 target price on the stock.

Separately, Ascendiant Capital Markets upped their target price on Phunware from $12.00 to $12.50 and gave the stock a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.67.

Phunware Price Performance

PHUN stock traded down $0.06 during trading on Thursday, reaching $2.65. 97,377 shares of the stock traded hands, compared to its average volume of 503,610. The business's 50 day moving average price is $3.08 and its 200-day moving average price is $3.07. Phunware has a 52-week low of $2.22 and a 52-week high of $14.60. The firm has a market capitalization of $53.50 million, a PE ratio of -4.08 and a beta of 2.30.

Phunware (NASDAQ:PHUN - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). Phunware had a negative net margin of 510.83% and a negative return on equity of 12.99%. The firm had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.74 million. On average, equities research analysts predict that Phunware will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PHUN. Geode Capital Management LLC boosted its holdings in Phunware by 87.9% in the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company's stock valued at $1,112,000 after purchasing an additional 100,010 shares during the last quarter. Marshall Wace LLP purchased a new position in Phunware in the fourth quarter valued at about $122,000. Dimensional Fund Advisors LP purchased a new position in Phunware in the fourth quarter valued at about $89,000. Northern Trust Corp boosted its holdings in Phunware by 285.4% in the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company's stock valued at $238,000 after purchasing an additional 33,922 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Phunware in the fourth quarter valued at about $85,000. Hedge funds and other 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.