Zacks: Sonim Technologies Inc (NASDAQ:SONM) Receives Average Recommendation of “Strong Buy” from Brokerages

Sonim Technologies Inc (NASDAQ:SONM) has received a consensus broker rating score of 1.17 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and three have assigned a strong buy rating to the company.

Brokers have set a 1-year consensus target price of $18.33 for the company and are expecting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also given Sonim Technologies an industry rank of 100 out of 256 based on the ratings given to its competitors.

Several research firms have recently commented on SONM. Lake Street Capital began coverage on Sonim Technologies in a research note on Tuesday, June 4th. They set a “buy” rating and a $19.00 target price for the company. Oppenheimer began coverage on Sonim Technologies in a research note on Tuesday, June 4th. They set an “outperform” rating and a $18.00 target price for the company. CIBC began coverage on Sonim Technologies in a research note on Tuesday, June 4th. They set an “outperform” rating and a $18.00 target price for the company. National Securities upgraded Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, July 9th. Finally, B. Riley began coverage on Sonim Technologies in a research note on Thursday, July 18th. They set a “buy” rating and a $17.00 target price for the company.

In other news, Director John Kneuer acquired 3,147 shares of Sonim Technologies stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $16.98 per share, for a total transaction of $53,436.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Plaschke sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.23, for a total value of $306,900.00. The disclosure for this sale can be found here.

Shares of Sonim Technologies stock traded down $0.56 on Friday, hitting $9.92. 137,118 shares of the company’s stock traded hands, compared to its average volume of 80,003. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 21.31. The business’s 50-day simple moving average is $13.37. Sonim Technologies has a 52-week low of $9.58 and a 52-week high of $18.26.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Monday, June 24th. The company reported ($0.39) EPS for the quarter. The firm had revenue of $26.48 million during the quarter. As a group, equities analysts predict that Sonim Technologies will post -0.16 earnings per share for the current fiscal year.

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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Analyst Recommendations for Sonim Technologies (NASDAQ:SONM)

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