Roth Capital Thinks Phunware’s Stock is Going to Recover

In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Phunware (PHUNResearch Report), with a price target of $1.75. The company’s shares closed last Monday at $1.04, close to its 52-week low of $0.60.

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 39.1% and a 50.0% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine, Fathom Holdings, and Remark Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Phunware with a $1.88 average price target.

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Based on Phunware’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.44 million and GAAP net loss of $8.29 million. In comparison, last year the company earned revenue of $2.21 million and had a GAAP net loss of $3.51 million.

Based on the recent corporate insider activity of 22 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.