Analysts Anticipate Sonim Technologies Inc (NASDAQ:SONM) Will Announce Quarterly Sales of $33.15 Million

Wall Street analysts expect Sonim Technologies Inc (NASDAQ:SONM) to post $33.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sonim Technologies’ earnings. The highest sales estimate is $35.00 million and the lowest is $31.30 million. The business is expected to report its next quarterly earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Sonim Technologies will report full year sales of $134.05 million for the current financial year, with estimates ranging from $134.00 million to $134.10 million. For the next year, analysts anticipate that the company will post sales of $149.75 million, with estimates ranging from $148.50 million to $151.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Sonim Technologies.

A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sonim Technologies from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Oppenheimer downgraded shares of Sonim Technologies from an “outperform” rating to a “market perform” rating and set a $6.00 target price for the company. in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.64.

Several institutional investors and hedge funds have recently made changes to their positions in SONM. BlackRock Inc. bought a new position in shares of Sonim Technologies in the 2nd quarter valued at about $2,083,000. Vanguard Group Inc. bought a new position in shares of Sonim Technologies in the 2nd quarter valued at about $1,093,000. Oppenheimer & Co. Inc. bought a new position in shares of Sonim Technologies in the 3rd quarter valued at about $181,000. Equitec Specialists LLC grew its position in shares of Sonim Technologies by 12,415.6% in the 4th quarter. Equitec Specialists LLC now owns 300,375 shares of the company’s stock valued at $1,090,000 after acquiring an additional 297,975 shares during the period. Finally, Private Advisors LLC bought a new position in shares of Sonim Technologies in the 4th quarter valued at about $537,000. 46.46% of the stock is owned by institutional investors.

Sonim Technologies stock traded down $0.13 during mid-day trading on Friday, reaching $3.06. The company’s stock had a trading volume of 17,500 shares, compared to its average volume of 51,687. Sonim Technologies has a 12 month low of $2.10 and a 12 month high of $18.26. The business’s 50 day simple moving average is $3.44 and its 200 day simple moving average is $3.81. The company has a quick ratio of 1.38, a current ratio of 2.22 and a debt-to-equity ratio of 0.34.

Sonim Technologies Company Profile

Sonim Technologies, Inc provides ruggedized mobile phones and accessories for task workers. It offers ruggedized mobile phones, such as Sonim XP8, Sonim XP5s, and Sonim XP3 based on the Android platform that are capable of attaching to public and private wireless networks; industrial-grade accessories, including remote speaker microphones, multi-bay charging accessories, and in-vehicle hands-free voice communications solutions; and cloud-based software and application services.

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Earnings History and Estimates for Sonim Technologies (NASDAQ:SONM)

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