PHUN - Analyst Recommends Trump-Linked Phunware For Solid Results In 2H24 And 2025 - Here's Why | Benzinga
H.C. Wainwright analyst Scott Buck reiterated the Buy rating on Phunware, Inc. (NASDAQ:PHUN), adjusted the price target to $12 from $1, following the company’s recent 1-for-50 reverse share split.
Yesterday, Phunware reported quarterly continuing operations losses of $(17.62) per share.
While revenue is likely to remain somewhat disappointing in the near term, the analyst highlights the firm’s plans for a strategic shift in sales methodology.
In terms of go-forward strategy, Phunware expects to leverage the success of its location-based platform in the hospitality, healthcare, and corporate campus verticals, Buck notes.
Specifically, the analyst recommended investors to build a position ahead of improving operating results in 2H24 and 2025.
According to the analyst, ...