Sonim (SONM) Outpaces Stock Market Gains: What You Should Know
Sonim (SONM) ended the recent trading session at $0.62, demonstrating a +0.42% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.23%. Meanwhile, the Dow experienced a rise of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Heading into today, shares of the company had lost 19.19% over the past month, lagging the Computer and Technology sector's gain of 11.06% and the S&P 500's gain of 5.3% in that time.
The upcoming earnings release of Sonim will be of great interest to investors.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sonim. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Sonim is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Sonim is currently exchanging hands at a Forward P/E ratio of 10.29. This signifies a discount in comparison to the average Forward P/E of 13.91 for its industry.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Sonim Technologies, Inc. (SONM) : Free Stock Analysis Report