Sonim (SONM) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Sonim (SONM) closed at $0.67, marking a +0.86% move from the previous day. This change outpaced the S&P 500's 0.48% gain on the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.43%.
Prior to today's trading, shares of the company had lost 21.53% over the past month. This has lagged the Computer and Technology sector's loss of 11.75% and the S&P 500's loss of 8.48% in that time.
Wall Street will be looking for positivity from Sonim as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for Sonim. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sonim currently has a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sonim Technologies, Inc. (SONM) : Free Stock Analysis Report
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