Sonim (SONM - Free Report) closed at $0.69 in the latest trading session, marking a +0.47% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.37%.
Shares of the company have depreciated by 5.05% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.34% and the S&P 500's gain of 3.8%.
Market participants will be closely following the financial results of Sonim in its upcoming release.
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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return 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.
Valuation is also important, so investors should note that Sonim has a Forward P/E ratio of 11.4 right now. For comparison, its industry has an average Forward P/E of 14.37, which means Sonim is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 171, 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sonim (SONM - Free Report) closed at $0.69 in the latest trading session, marking a +0.47% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.37%.
Shares of the company have depreciated by 5.05% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.34% and the S&P 500's gain of 3.8%.
Market participants will be closely following the financial results of Sonim in its upcoming release.
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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return 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.
Valuation is also important, so investors should note that Sonim has a Forward P/E ratio of 11.4 right now. For comparison, its industry has an average Forward P/E of 14.37, which means Sonim is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 171, 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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