Sonim (SONM) Stock Sinks As Market Gains: What You Should Know
Sonim (SONM) closed the most recent trading day at $0.71, moving -0.78% from the previous trading session. This change lagged the S&P 500's 1.21% gain on the day. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.16%.
Coming into today, shares of the company had gained 30.84% in the past month. In that same time, the Computer and Technology sector gained 2.22%, while the S&P 500 gained 3.2%.
Wall Street will be looking for positivity from Sonim as it approaches its next earnings report date.
Investors might also notice 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sonim is holding a Zacks Rank of #3 (Hold) right now.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow SONM in the coming trading sessions, be sure to utilize Zacks.com.
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Sonim Technologies, Inc. (SONM) : Free Stock Analysis Report
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