Smith Micro Shares Rally On Customer Wins & Upgrades

Posted on January 13, 2021 by Aaron Warwick

Yesterday, in a Breakout Investor post, we highlighted that Smith Micro (SMSI) publicly announced the signing of four new customers at the 23rd Annual Needham Growth Conference, as well as on their website via their January 2021 Investor Presentation. Following that announcement, today several analysts following the company issued increased price targets. B. Riley Securities raised their price target from $5.50 to $8. Roth Capital raised their target from $9.50 to $10.50.

The market also responded positively to this news from SMSI, with shares closing the day at $6.41/share, 20% higher than they closed on Monday, January 11, the day before this update. For additional information about SMSI, we recommend reading Breakout Investor Aaron Warwick’s most recent Seeking Alpha article on the company, “Smith Micro Software Has A Safe Path Forward.”

Disclosure: I am long SMSI and may buy or sell at any time.

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