Needham & Company Maintains a 'Hold' on Smith Micro Software (SMSI); Revenue Remains a Challenge Near Term as Pipeline Builds

Needham & Company maintains a 'Hold' on Smith Micro Software (NASDAQ: SMSI).

Analyst, Richard Kugele, said, "Following the virtual collapse of SMSI’s former mainstay Connection Manager business, the company has placed its turnaround bet primarily on its new Mobile Network Director (MND) product, which facilitates WiFi offloading for wireless carriers. While MND appears well placed to fill a current need of most carriers today, the timing and ultimate magnitude of the revenue ramp associated with this product remains in question, in our view. As such, we retain our Hold rating pending better visibility to this ramp and achievement of break-even profitability."

For an analyst ratings summary and ratings history on Smith Micro Software click here. For more ratings news on Smith Micro Software click here.

Shares of Smith Micro Software closed at $2.32 yesterday.

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