Phunware (NASDAQ:PHUN) Receives 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%.

Phunware (NASDAQ:PHUN - Get Free Report)'s stock had its "neutral" rating reiterated by HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 7.53% from the company's current price.

Separately, Ascendiant Capital Markets raised their price target on Phunware from $12.00 to $12.50 and gave the company a "buy" rating in a research note on Friday, June 6th.

Phunware Stock Up 8.6%

Shares of Phunware stock opened at $2.79 on Thursday. The stock's fifty day moving average is $3.11 and its two-hundred day moving average is $3.11. The company has a market capitalization of $56.33 million, a PE ratio of -4.29 and a beta of 2.30. Phunware has a 52 week low of $2.22 and a 52 week high of $14.60.

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

Institutional Investors Weigh In On Phunware

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new stake in shares of Phunware during the first quarter worth about $30,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Phunware during the first quarter worth about $30,000. Millennium Management LLC acquired a new stake in shares of Phunware during the fourth quarter worth about $57,000. Jane Street Group LLC lifted its holdings in shares of Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company's stock worth $35,000 after purchasing an additional 12,359 shares during the period. Finally, R Squared Ltd acquired a new position in Phunware in the second quarter valued at approximately $39,000. Institutional investors and hedge funds 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.

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