Phunware (NASDAQ:PHUN) Price Target Cut to $12.00 by Analysts at Ascendiant Capital Markets

Phunware (NASDAQ:PHUN - Get Free Report) had its target price reduced by investment analysts at Ascendiant Capital Markets from $13.00 to $12.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Ascendiant Capital Markets' price target points to a potential upside of 301.34% from the company's current price.

PHUN has been the topic of a number of other reports. HC Wainwright reduced their price target on Phunware from $6.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Roth Capital set a $4.50 target price on Phunware in a research report on Monday, March 24th.

Phunware Stock Up 0.3 %

Shares of NASDAQ:PHUN traded up $0.01 on Monday, reaching $2.99. The company had a trading volume of 155,760 shares, compared to its average volume of 2,281,528. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $60.31 million, a PE ratio of -3.11 and a beta of 2.35. Phunware has a 52-week low of $2.22 and a 52-week high of $14.60. The firm's 50 day simple moving average is $2.92 and its 200-day simple moving average is $4.47.

Phunware (NASDAQ:PHUN - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.12. Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.93 million. As a group, analysts expect that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Phunware by 36.6% during the third quarter. Geode Capital Management LLC now owns 113,767 shares of the company's stock valued at $389,000 after buying an additional 30,507 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Phunware in the fourth quarter worth about $122,000. Dimensional Fund Advisors LP purchased a new position in shares of Phunware in the fourth quarter worth about $89,000. Northern Trust Corp lifted its holdings in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company's stock worth $238,000 after purchasing an additional 33,922 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Phunware in the fourth quarter valued at approximately $85,000. 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.