Back to top

Image: Bigstock

Here's Why Sonim (SONM) Fell More Than Broader Market

Read MoreHide Full Article

In the latest trading session, Sonim (SONM - Free Report) closed at $0.61, marking a -1.64% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.37% for the day. Meanwhile, the Dow experienced a drop of 1.35%, and the technology-dominated Nasdaq saw a decrease of 1.8%.

Shares of the company witnessed a loss of 15.79% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 8.88% and the S&P 500's gain of 5.1%.

Investors will be eagerly watching for the performance of Sonim in its upcoming earnings disclosure.

Any recent changes to analyst estimates for Sonim should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sonim currently has a Zacks Rank of #3 (Hold).

Looking at valuation, Sonim is presently trading at a Forward P/E ratio of 10.34. Its industry sports an average Forward P/E of 14.54, so one might conclude that Sonim is trading at a discount comparatively.

The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.

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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Sonim Technologies, Inc. (SONM) - free report >>

Published in