H.C. Wainwright Thinks Phunware’s Stock is Going to Recover

Phunware (PHUNResearch Report) received a Buy rating and a $2.00 price target from H.C. Wainwright analyst Scott Buck today. The company’s shares closed last Tuesday at $1.03, close to its 52-week low of $0.60.

According to TipRanks.com, Buck is a 5-star analyst with an average return of 27.1% and a 49.0% success rate. Buck covers the Technology sector, focusing on stocks such as Enthusiast Gaming Holdings, Intellicheck Mobilisia, and Lightpath Technologies.

Phunware has an analyst consensus of Moderate Buy, with a price target consensus of $2.25, implying a 108.3% upside from current levels. In a report issued on July 15, Roth Capital also maintained a Buy rating on the stock with a $2.50 price target.

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Based on Phunware’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.65 million and GAAP net loss of $12.36 million. In comparison, last year the company earned revenue of $2.64 million and had a GAAP net loss of $3.96 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PHUN in relation to earlier this year.

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Phunware, Inc. engages in the development of a Multiscreen-as-a-Service platform, an enterprise cloud platform for mobile. It provides companies the products, solutions, data, and services necessary to engage, manage, and monetize mobile application portfolios and audiences at scale. Its platform also allows for the licensing and creation of category-defining mobile experiences for brands and their application users worldwide. The company was founded by Alan S. Knitowski and Luan Dang in February 2009 and is headquartered in Austin, TX.