Scott Buck, an analyst from H.C. Wainwright, maintained the Hold rating on Phunware. The associated price target is $3.00.
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Scott Buck has given his Hold rating due to a combination of factors impacting Phunware’s current financial situation and future prospects. The company reported a decline in revenue for the second quarter of 2025, falling short of expectations, which indicates ongoing pressure on its core business. Despite some positive developments, such as new bookings and advancements in AI solutions, these are not expected to significantly drive revenue in the near term.
Phunware’s substantial cash reserves provide a buffer, but the company is likely to rely on mergers and acquisitions for growth, given the underperformance of its current operations. The potential for acquisitions could alter the company’s outlook, but the timing and impact of such transactions remain uncertain. As a result, while the stock trades below its cash value, the current burn rate poses a risk to the cash balance, leading to a cautious stance with a price target maintained at $3.