Phunware (NASDAQ:PHUN) Price Target Raised to $12.50

Phunware (NASDAQ:PHUN) had its target price raised by Ascendiant Capital Markets from $12.00 to $12.50 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. HC Wainwright dropped their target price on Phunware from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Roth Capital set a $4.50 price objective on shares of Phunware in a report on Monday, March 24th.

Phunware Trading Up 10.2%

Shares of PHUN stock opened at $3.23 on Friday. Phunware has a 1-year low of $2.22 and a 1-year high of $14.60. The firm has a market cap of $65.15 million, a PE ratio of -3.99 and a beta of 2.35. The company has a 50-day moving average of $2.87 and a two-hundred day moving average of $3.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80.

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

Institutional Trading of Phunware

A number of large investors have recently made changes to their positions in PHUN. Geode Capital Management LLC grew its holdings in Phunware by 87.9% during the 4th quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after acquiring an additional 100,010 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Phunware during the 4th quarter worth $122,000. Dimensional Fund Advisors LP acquired a new position in shares of Phunware during the fourth quarter worth $89,000. Northern Trust Corp increased 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 buying an additional 33,922 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Phunware in the fourth quarter valued at $85,000. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

About Phunware

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.