Canaccord Genuity Maintains a 'Hold' on Smith Micro Software (SMSI); Q3/11 Earnings: Target Return to Profits in 3-5 Quarters

Canaccord Genuity maintains a 'Hold' on Smith Micro Software (NASDAQ: SMSI) price target of $1.00.

Canaccord analyst, T. Michael Walkley, said, "Smith Micro reported Q3/11 results in line with its pre-announcement, and management did not provide forward guidance. With our belief business trends will take longer to recover than previously anticipated, we are lowering our estimates...We are lowering our 2011 pro forma net income estimate from ($0.66) to ($0.73) per share. However, due to cost-cutting measures, we are increasing our 2012 estimate from $(0.23) from ($0.19)."

For more ratings news on Smith Micro Software click here and for the rating history of Smith Micro Software click here.

Shares of Smith Micro Software closed at $1.19 yesterday.

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