Published on 16 Nov 2022 on Simply Wall St. via Yahoo Finance

Analyst Forecasts Just Became More Bearish On Phunware, Inc. (NASDAQ:PHUN)

The analysts covering Phunware, Inc. (NASDAQ:PHUN) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for next year. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative.

After this downgrade, Phunware's four analysts are now forecasting revenues of US$28m in 2023. This would be a substantial 24% improvement in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 62% to US$0.27. However, before this estimates update, the consensus had been expecting revenues of US$32m and US$0.24 per share in losses. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a serious cut to their revenue forecasts while also expecting losses per share to increase.

View our latest analysis for Phunware