Zacks: Brokerages Expect Sonim Technologies, Inc. (NASDAQ:SONM) Will Post Earnings of -$0.16 Per Share

Wall Street brokerages forecast that Sonim Technologies, Inc. (NASDAQ:SONM) will announce earnings of ($0.16) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sonim Technologies’ earnings. The lowest EPS estimate is ($0.21) and the highest is ($0.10). Sonim Technologies reported earnings per share of ($0.41) in the same quarter last year, which would suggest a positive year over year growth rate of 61%. The business is expected to issue its next earnings report on Wednesday, March 10th.

On average, analysts expect that Sonim Technologies will report full-year earnings of ($0.73) per share for the current fiscal year, with EPS estimates ranging from ($0.80) to ($0.65). For the next year, analysts expect that the company will post earnings of ($0.50) per share, with EPS estimates ranging from ($0.72) to ($0.28). Zacks’ EPS averages are a mean average based on a survey of analysts that cover Sonim Technologies.

Sonim Technologies (NASDAQ:SONM) last issued its quarterly earnings results on Wednesday, November 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.14. The firm had revenue of $14.39 million during the quarter, compared to the consensus estimate of $18.20 million. Sonim Technologies had a negative return on equity of 111.32% and a negative net margin of 40.31%.

SONM has been the subject of a number of analyst reports. Zacks Investment Research raised Sonim Technologies from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a report on Tuesday, January 5th. B. Riley restated a “buy” rating on shares of Sonim Technologies in a research note on Wednesday, December 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sonim Technologies presently has an average rating of “Buy” and an average target price of $2.06.

SONM traded up $0.06 on Friday, reaching $0.85. The company’s stock had a trading volume of 96,198 shares, compared to its average volume of 1,001,130. The stock has a market cap of $56.52 million, a price-to-earnings ratio of -0.55 and a beta of 3.20. Sonim Technologies has a 1 year low of $0.42 and a 1 year high of $3.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.26 and a quick ratio of 1.73. The business’s 50 day moving average is $0.66 and its 200 day moving average is $0.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in shares of Sonim Technologies by 332.4% in the second quarter. Goldman Sachs Group Inc. now owns 164,160 shares of the company’s stock valued at $131,000 after acquiring an additional 126,196 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Sonim Technologies during the 2nd quarter worth approximately $53,000. Bridgeway Capital Management Inc. boosted its position in shares of Sonim Technologies by 67.9% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 160,700 shares of the company’s stock worth $130,000 after acquiring an additional 65,000 shares in the last quarter. Equitec Proprietary Markets LLC acquired a new stake in shares of Sonim Technologies during the 3rd quarter worth approximately $1,507,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Sonim Technologies during the 3rd quarter worth approximately $186,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.

About Sonim Technologies

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; cloud-based software and application services; and Rapid Deployment Kit, a portable communications system.

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

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