Brokerages Expect Sonim Technologies Inc (NASDAQ:SONM) Will Post Earnings of -$0.01 Per Share

Wall Street analysts expect Sonim Technologies Inc (NASDAQ:SONM) to report earnings per share (EPS) of ($0.01) for the current quarter, Zacks reports. Two analysts have issued estimates for Sonim Technologies’ earnings. The lowest EPS estimate is ($0.03) and the highest is $0.02. The business is scheduled to issue its next earnings results on Wednesday, January 29th.

According to Zacks, analysts expect that Sonim Technologies will report full-year earnings of ($0.92) per share for the current fiscal year, with EPS estimates ranging from ($1.05) to ($0.79). For the next financial year, analysts forecast that the company will post earnings of $0.04 per share, with EPS estimates ranging from ($0.18) to $0.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Sonim Technologies.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.16). The business had revenue of $28.85 million during the quarter, compared to analyst estimates of $31.25 million.

Several analysts have issued reports on the company. Oppenheimer cut Sonim Technologies from an “outperform” rating to a “market perform” rating and set a $6.00 target price on the stock. in a research report on Thursday, October 31st. B. Riley dropped their target price on Sonim Technologies from $18.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. ValuEngine raised Sonim Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Zacks Investment Research raised Sonim Technologies from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, UBS Group reaffirmed an “outperform” rating and set a $6.00 target price (down previously from $18.00) on shares of Sonim Technologies in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Sonim Technologies presently has a consensus rating of “Buy” and an average target price of $11.64.

Shares of NASDAQ SONM traded up $0.04 during midday trading on Friday, hitting $2.46. The company’s stock had a trading volume of 244,061 shares, compared to its average volume of 157,196. Sonim Technologies has a 12-month low of $2.10 and a 12-month high of $18.26. The business’s 50 day moving average is $2.50 and its two-hundred day moving average is $7.58. The company has a current ratio of 2.22, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34.

In related news, major shareholder Brc Partners Opportunity Fund, bought 25,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $2.23 per share, with a total value of $56,865.00.

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Sonim Technologies in the 2nd quarter worth $175,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Sonim Technologies in the 3rd quarter worth $181,000. Northern Trust Corp acquired a new stake in shares of Sonim Technologies in the 2nd quarter worth $255,000. Jane Street Group LLC acquired a new stake in shares of Sonim Technologies in the 2nd quarter worth $259,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Sonim Technologies in the 2nd quarter worth $424,000. 39.86% of the stock is owned by hedge funds and other institutional investors.

About Sonim Technologies

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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Earnings History and Estimates for Sonim Technologies (NASDAQ:SONM)

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