Analyst Recommends Trump-Linked Phunware For Solid Results In 2H24 And 2025 - Here's Why
Portfolio Pulse from Nabaparna Bhattacharya
H.C. Wainwright analyst Scott Buck reiterated a Buy rating on Phunware, Inc. (NASDAQ:PHUN), adjusting the price target to $12 from $1 after a 1-for-50 reverse share split. Despite recent losses, Buck is optimistic about Phunware's strategic shift and potential growth in 2H24 and 2025, projecting revenues of $6 million and $10 million, respectively. Conversely, Roth MKM analyst Darren Aftahi reduced the price forecast to $20 from $25 but maintained a Buy rating, highlighting the company's focus on hospitality and potential in the healthcare sector and its underappreciated crypto angle. Phunware's ties to Donald Trump are noted, and its shares are currently down 11.8% to $9.17.
March 13, 2024 | 6:36 pm
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NEUTRAL IMPACT
Phunware receives mixed analyst ratings; H.C. Wainwright is optimistic with a new $12 price target, while Roth MKM reduces its target to $20 but keeps a Buy rating. The company's strategic shift and potential revenue growth in 2H24 and 2025 are highlighted, despite current share price decline.
The mixed analyst ratings with both optimistic revenue projections and a current share price decline indicate a neutral short-term impact. The strategic shift and potential for future growth could balance out the negative sentiment from the recent share price drop.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100