$50.25 Million in Sales Expected for Sonim Technologies Inc (NASDAQ:SONM) This Quarter

Analysts expect Sonim Technologies Inc (NASDAQ:SONM) to report $50.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Sonim Technologies’ earnings. The lowest sales estimate is $50.00 million and the highest is $50.50 million. The business is expected to report its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Sonim Technologies will report full year sales of $174.15 million for the current year, with estimates ranging from $174.10 million to $174.20 million. For the next financial year, analysts anticipate that the firm will report sales of $211.95 million, with estimates ranging from $205.00 million to $218.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Sonim Technologies.

Sonim Technologies (NASDAQ:SONM) last released its earnings results on Monday, June 24th. The company reported ($0.39) EPS for the quarter. The company had revenue of $26.48 million during the quarter.

A number of research analysts recently commented on the company. Oppenheimer assumed coverage on Sonim Technologies in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $18.00 target price on the stock. National Securities raised Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, July 9th. B. Riley initiated coverage on Sonim Technologies in a research note on Thursday, July 18th. They issued a “buy” rating and a $17.00 target price on the stock. CIBC initiated coverage on Sonim Technologies in a research note on Tuesday, June 4th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Lake Street Capital initiated coverage on Sonim Technologies in a research note on Tuesday, June 4th. They set a “buy” rating and a $19.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Sonim Technologies presently has an average rating of “Buy” and an average target price of $17.80.

SONM opened at $9.92 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 21.31. Sonim Technologies has a 52 week low of $9.58 and a 52 week high of $18.26. The company has a fifty day moving average price of $13.37.

In other news, CEO Robert Plaschke sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.23, for a total transaction of $306,900.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Kneuer acquired 3,147 shares of Sonim Technologies stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $16.98 per share, for a total transaction of $53,436.06. The disclosure for this purchase can be found here.

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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