Zacks: Analysts Expect Phunware, Inc. (NASDAQ:PHUN) Will Announce Quarterly Sales of $6.05 Million

Brokerages forecast that Phunware, Inc. (NASDAQ:PHUN – Get Rating) will announce sales of $6.05 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Phunware’s earnings. The highest sales estimate is $6.73 million and the lowest is $5.38 million. Phunware posted sales of $1.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 320.1%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Phunware will report full year sales of $26.41 million for the current financial year, with estimates ranging from $25.00 million to $29.00 million. For the next financial year, analysts anticipate that the company will report sales of $33.87 million, with estimates ranging from $32.48 million to $36.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Phunware.

Separately, Zacks Investment Research lowered Phunware from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 29th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHUN. Independent Wealth Network Inc. boosted its holdings in Phunware by 10.5% during the 4th quarter. Independent Wealth Network Inc. now owns 30,743 shares of the company’s stock valued at $81,000 after acquiring an additional 2,914 shares during the period. Crestwood Advisors Group LLC raised its position in Phunware by 50.0% in the 1st quarter. Crestwood Advisors Group LLC now owns 15,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Northern Trust Corp raised its position in Phunware by 4.5% in the 4th quarter. Northern Trust Corp now owns 123,797 shares of the company’s stock valued at $326,000 after purchasing an additional 5,285 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Phunware in the 1st quarter valued at about $29,000. Finally, Shay Capital LLC acquired a new stake in Phunware in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 7.81% of the company’s stock.

Shares of Phunware stock opened at $1.43 on Monday. The company has a market capitalization of $139.07 million, a PE ratio of -2.13 and a beta of 12.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.98. The company has a 50-day simple moving average of $2.22 and a two-hundred day simple moving average of $2.80. Phunware has a one year low of $0.82 and a one year high of $24.04.

About Phunware (Get Rating)

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 worldwide. Its products and services include cloud-based mobile software that licenses in software development kits (SDKs) form utilized inside mobile applications, such as analytics that provides data related to application use and engagement; content management that allows application admins to create and manage app content in a cloud-based portal; alerts, notifications, and messaging; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services that include mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.

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