Phunware (NASDAQ:PHUN) stock has had an impressive recovery this year, with a 320% increase year-to-date. The company provides an enterprise cloud platform for mobile, helping to manage and monetize mobile applications.
Despite a decrease in revenues, Phunware has shown promise in enhancing technology monetization, streamlining operations, and cutting costs for future growth.
Analysts are optimistic about PHUN stock, with Roth MKM analyst Darren Aftahi giving a Buy rating and a price target of $0.50, suggesting a 48.63% upside potential. The average price target for Phunware stock is $1, indicating a 197.27% potential upside. The stock has a Strong Buy consensus rating based on unanimous Buy recommendations.
Investors should keep an eye on cash burn and pipeline growth while considering the potential upside of PHUN stock. Utilizing TipRanks’ penny stock screener can help investors find top-rated penny stocks.