Sonim (SONM) Ascends While Market Falls: Some Facts to Note
In the latest trading session, Sonim (SONM) closed at $0.67, marking a +1.69% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.12%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.41%.
The the stock of company has risen by 5.44% in the past month, lagging the Computer and Technology sector's gain of 6.12% and overreaching the S&P 500's gain of 4.83%.
The investment community will be paying close attention to the earnings performance of Sonim in its upcoming release.
Investors might also notice recent changes to analyst estimates for Sonim. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Sonim is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Sonim is currently being traded at a Forward P/E ratio of 11.02. This represents a discount compared to its industry's average Forward P/E of 14.33.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sonim Technologies, Inc. (SONM) : Free Stock Analysis Report