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Sonim (SONM) Suffers a Larger Drop Than the General Market: Key Insights
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Sonim (SONM - Free Report) ended the recent trading session at $0.62, demonstrating a -1.52% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had lost 18.57% over the past month, lagging the Computer and Technology sector's gain of 9.33% and the S&P 500's gain of 4.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sonim in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sonim. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Sonim possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Sonim is holding a Forward P/E ratio of 10.45. This denotes a discount relative to the industry's average Forward P/E of 14.17.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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 (SONM) Suffers a Larger Drop Than the General Market: Key Insights
Sonim (SONM - Free Report) ended the recent trading session at $0.62, demonstrating a -1.52% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had lost 18.57% over the past month, lagging the Computer and Technology sector's gain of 9.33% and the S&P 500's gain of 4.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sonim in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sonim. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Sonim possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Sonim is holding a Forward P/E ratio of 10.45. This denotes a discount relative to the industry's average Forward P/E of 14.17.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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.