Equities Analysts Offer Predictions for Phunware, Inc.’s Q2 2024 Earnings (NASDAQ:PHUN)

Phunware, Inc. (NASDAQ:PHUN) – Research analysts at HC Wainwright cut their Q2 2024 earnings estimates for shares of Phunware in a note issued to investors on Monday, May 20th. HC Wainwright analyst S. Buck now expects that the company will earn ($0.37) per share for the quarter, down from their prior estimate of ($0.34). HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Phunware’s current full-year earnings is ($1.47) per share. HC Wainwright also issued estimates for Phunware’s Q3 2024 earnings at ($0.36) EPS, FY2024 earnings at ($1.44) EPS and FY2025 earnings at ($1.35) EPS.

A number of other research firms also recently weighed in on PHUN. Roth Mkm reissued a “buy” rating and set a $20.00 target price (down from $25.00) on shares of Phunware in a research report on Wednesday, March 13th. Ascendiant Capital Markets reduced their target price on shares of Phunware from $75.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, April 1st.

Phunware Price Performance

Phunware stock opened at $6.84 on Wednesday. Phunware has a twelve month low of $3.50 and a twelve month high of $33.50. The firm has a 50 day moving average price of $7.65 and a 200-day moving average price of $8.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.77 and a quick ratio of 2.77.

Phunware (NASDAQ:PHUN) last released its earnings results on Thursday, May 9th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.05. Phunware had a negative net margin of 257.36% and a negative return on equity of 403.47%. The firm had revenue of $0.92 million during the quarter, compared to the consensus estimate of $1.15 million. During the same period in the prior year, the firm earned ($3.50) EPS.

Institutional Trading of Phunware

A hedge fund recently bought a new stake in Phunware stock. Murchinson Ltd. purchased a new stake in shares of Phunware, Inc. (NASDAQ:PHUN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned approximately 0.12% of Phunware at the end of the most recent quarter. 7.57% of the stock is currently owned by institutional investors.

About Phunware

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.