News

Smith Micro Software SMSI signed a new agreement with a U.S.-based mobile operator to implement the SafePath solution for its subscribers. This is the first customer to launch SafePath Global.

SafePath Global allows carriers to offer all the capabilities of the SafePath application swiftly to its customers and enables customers to obtain a family safety solution. This simplifies or eliminates many of the difficulties associated with implementing a family safety solution, including cost, resource limits, and multiple decision points.

The SafePath platform comprises SafePath Family, SafePath IoT, SafePath Home, SafePath Drive etc. It provides comprehensive and easy-to-use tools to protect digital lifestyles and manage connected devices through a single application.

Smith Micro Software, Inc. Price and Consensus

The company is a leading provider of embedded software for networked devices, policy-based management platforms, and mobile applications and hosted services. It plans to launch SafePath Premium to further broaden its SafePath portfolio. The solution is expected to be available in the second half of this year.

In February, the company unveiled SafePath OS, which is a new family safety solution that is built on the Android operating system. The solution improves digital safety for children and families as SafePath OS will expand the company’s reach from a subscription application-only solution to enabling MNOs to offer devices powered by SafePath OS. The solution is expected to be available in the second half of this year.

Also, the company has announced that its board of directors approved a 1-for-8 reverse split of its common stock. The reverse split will legally take effect on Apr 10, 2024, added the company. The goal of the reverse split is to raise the share price so that it can once again meet the minimum bid price required to remain listed on the Nasdaq Capital Market.

SMSI currently carries a Zacks Rank #4 (Sell). Shares of SMSI have lost 71.4% in the past year against the sub-industry’s growth of 42.5%.

Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks from the broader technology space are Synopsys SNPS, Woodward WWD and Perion Network PERI. Synopsys and Perion Network sport a Zacks Rank #1 (Strong Buy), while Woodward carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Synopsys’ 2024 earnings per share (EPS) has improved 0.3% in the past 60 days to $13.46. SNPS’s long-term earnings growth rate is 17.5%.

Synopsys’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 4.1%. SNPS shares have risen 56.1% in the past year.

The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has moved up 5.7% in the past 60 days to $5.27. WWD’s long-term earnings growth rate is 15.5%.

Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 27.2%. WWD shares have risen 62.3% in the past year.

The Zacks Consensus Estimate for Perion Network’s fiscal 2024 EPS has improved 0.6% in the past 60 days to $3.34. PERI’s long-term earnings growth rate is 22%.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 12.9%. PERI shares have lost 42% in the past year.

Top 5 ChatGPT Stocks Revealed

Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.

Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”

Download Free ChatGPT Stock Report Right Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.