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Sonim (SONM) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Sonim (SONM - Free Report) reached $0.59, with a -0.86% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.24%.
Prior to today's trading, shares of the company had lost 10.45% over the past month. This has lagged the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 0.48% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sonim in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 400% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $18 million, reflecting a 30.23% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sonim. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. The Zacks Consensus EPS estimate has moved 83.33% lower within the past month. Sonim is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Sonim is presently trading at a Forward P/E ratio of 59.2. This indicates a premium in contrast to its industry's Forward P/E of 14.52.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sonim (SONM) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Sonim (SONM - Free Report) reached $0.59, with a -0.86% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.24%.
Prior to today's trading, shares of the company had lost 10.45% over the past month. This has lagged the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 0.48% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sonim in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 400% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $18 million, reflecting a 30.23% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sonim. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. The Zacks Consensus EPS estimate has moved 83.33% lower within the past month. Sonim is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Sonim is presently trading at a Forward P/E ratio of 59.2. This indicates a premium in contrast to its industry's Forward P/E of 14.52.
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.