why Phunware Inc. [PHUN] is a Good Choice for Investors After New Price Target of $3.75

Phunware Inc. [NASDAQ: PHUN] jumped around 0.08 points on Monday, while shares priced at $1.48 at the close of the session, up 5.71%. The company report on November 10, 2022 that Phunware Reports Third Quarter 2022 Financial Results.


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“We are very excited to continue our 2022 momentum in Q3, delivering actual revenues exceeding 120% growth year-over-year while simultaneously expanding our MaaS backlog to nearly $8M,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “We continue operating effectively at the intersection of mobile, cloud, big data and blockchain across all lines of business and are revising our forward revenue guidance for 2022 to up roughly 225% year-over-year, or approximately $22.5M. In parallel, we also expect that the second half of 2022 will represent a new second half record for reported revenues as a public company for its comparable period.”.

Phunware Inc. stock is now -43.73% down from its year-to-date (YTD) trading value. PHUN Stock saw the intraday high of $1.64 and lowest of $1.39 per share. The company’s 52-week high price is 4.60, which means current price is +48.00% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 3.43M shares, PHUN reached a trading volume of 16083021 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Phunware Inc. [PHUN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PHUN shares is $3.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PHUN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Phunware Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 11, 2021. While these analysts kept the previous recommendation, Ascendiant Capital Markets raised their target price to Buy. The new note on the price target was released on June 16, 2020, representing the official price target for Phunware Inc. stock.

The Average True Range (ATR) for Phunware Inc. is set at 0.14, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 6.72. The Price to Book ratio for the last quarter was 4.00, with the Price to Cash per share for the same quarter was set at 0.03.

How has PHUN stock performed recently?

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.84. With this latest performance, PHUN shares gained by 37.04% in over the last four-week period, additionally plugging by 3.50% over the last 6 months – not to mention a drop of -63.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PHUN stock in for the last two-week period is set at 59.66, with the RSI for the last a single of trading hit 61.94, and the three-weeks RSI is set at 57.22 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.2782, while it was recorded at 1.3800 for the last single week of trading, and 1.7680 for the last 200 days.

Phunware Inc. [PHUN]: Deeper insight into the fundamentals

Phunware Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

Insider trade positions for Phunware Inc. [PHUN]

There are presently around $14 million, or 12.20% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 4,092,932, which is approximately 1.527% of the company’s market cap and around 5.40% of the total institutional ownership; BLACKROCK INC., holding 1,317,184 shares of the stock with an approximate value of $1.95 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.25 million in PHUN stock with ownership of nearly 12.864% of the company’s market capitalization.

21 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 1,723,447 shares. Additionally, 20 investors decreased positions by around 653,432 shares, while 14 investors held positions by with 6,966,949 shares. The mentioned changes placed institutional holdings at 9,343,828 shares, according to the latest SEC report filing. PHUN stock had 9 new institutional investments in for a total of 941,321 shares, while 9 institutional investors sold positions of 334,474 shares during the same period.

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