Canaccord Genuity Maintains a 'Hold' on Smith Micro Software (SMSI); MND Product Key for Sales Recovery - Q1/12 Potential Bottom
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Price: $2.98 +0.34%
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Smith Micro Software (NASDAQ: SMSI) price target doubled from $1 to $2.
Analyst, T. Michael Walkley, said, "Smith Micro reported Q4/11 results slightly below our expectations and anticipates slightly lower sales in Q1/12. However, with its recent Mobile Network Director (MND) win with Sprint, Smith Micro anticipates sales should start recovering in Q2/12. While the MND win with Sprint is the first step in Smith Micro’s potential longer-term return to profitability, we maintain our rating, but we are increasing our price target."
"Due to lower sales expectations in Q1/12, we are reducing our 2012 pro forma LPS estimate from ($0.19) to ($0.31). Based on steadily improving sales and improved cost levels, we believe Smith Micro can return to a modest pro forma EPS profit of $0.18 in 2013."
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.
Analyst, T. Michael Walkley, said, "Smith Micro reported Q4/11 results slightly below our expectations and anticipates slightly lower sales in Q1/12. However, with its recent Mobile Network Director (MND) win with Sprint, Smith Micro anticipates sales should start recovering in Q2/12. While the MND win with Sprint is the first step in Smith Micro’s potential longer-term return to profitability, we maintain our rating, but we are increasing our price target."
"Due to lower sales expectations in Q1/12, we are reducing our 2012 pro forma LPS estimate from ($0.19) to ($0.31). Based on steadily improving sales and improved cost levels, we believe Smith Micro can return to a modest pro forma EPS profit of $0.18 in 2013."
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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