Phunware (NASDAQ:PHUN) Posts Quarterly Earnings Results, Hits Expectations

Phunware (NASDAQ:PHUN) issued its quarterly earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12), Zacks reports. The business had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.60 million. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%.

Phunware Stock Up 3.0%

Shares of NASDAQ:PHUN opened at $3.12 on Tuesday. The company has a 50 day moving average price of $2.84 and a two-hundred day moving average price of $4.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80. The company has a market capitalization of $62.93 million, a PE ratio of -3.25 and a beta of 2.58. Phunware has a 52 week low of $2.22 and a 52 week high of $14.60.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Ascendiant Capital Markets reduced their target price on shares of Phunware from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Roth Capital set a $4.50 price objective on shares of Phunware in a report on Monday, March 24th. Finally, HC Wainwright lowered their target price on shares of Phunware from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, March 24th.

Phunware Company Profile

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.