Smith Micro Software

SMSI · NASDAQ

$2.54+$0.145 (+6.07%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $2.39

SMSI analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 4 analysts

Average $11.22 (+342.6% upside)

Low: $10.10
Now: $2.54
High: $12.60

Upgrades and downgrades

The latest rating actions, newest first

SMSI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Benchmark	May 1, 2026	Maintains	Buy	$2.00 → $2.50	52%

The case for and against

Updated Nov 30, 2024

Bull case

Smith Micro Software Inc. is projected to achieve a sequential increase in top-line revenue in the range of $5.0M to $5.2M for 4Q24, alongside a notable improvement in non-GAAP gross profit to $8.5M, which exceeds expectations and reflects an increase from the previous year. The company has successfully surpassed its operational cost-reduction goals by $4M relative to 4Q22, positioning itself for enhanced efficiency and market responsiveness. With anticipated sales growth of approximately 18% CAGR through 2027 and a projected EBITDA turnaround from a loss to a positive figure, Smith Micro is poised for a robust financial recovery and expansion.

Bear case

Smith Micro Software Inc. reported a significant decline in revenue, with approximately 58% year-over-year and 10% sequential decreases in the third quarter of 2024, amounting to $4.6 million. The company faces challenges with a projected gross margin drop to between 72% and 75%, alongside a downward revision of its fourth quarter sales and EBITDA forecasts to $8.8 million and a $1.4 million loss, respectively. This financial performance is compounded by difficulties in product sales, as the anticipated benefits from new contracts have not yet translated into meaningful revenue growth, creating a negative outlook for the company.

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