Sonim Technologies Inc (NASDAQ:SONM) Receives Consensus Recommendation of “Strong Buy” from Analysts

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Sonim Technologies Inc (NASDAQ:SONM) has received an average broker rating score of 1.17 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and three have assigned a strong buy rating to the company.

Brokers have set a 1-year consensus price objective of $18.00 for the company and are expecting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Sonim Technologies an industry rank of 75 out of 256 based on the ratings given to related companies.

A number of equities analysts have weighed in on SONM shares. B. Riley started coverage on shares of Sonim Technologies in a research note on Thursday. They issued a “buy” rating and a $17.00 target price for the company. CIBC initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an “outperform” rating and a $55.00 price target for the company. Oppenheimer initiated coverage on shares of Tilray in a research report on Tuesday, June 4th. They set a “market perform” rating for the company. National Securities upgraded shares of Sonim Technologies from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, July 9th. Finally, Lake Street Capital initiated coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They set a “buy” rating and a $19.00 price target for the company.

Shares of NASDAQ SONM traded up $0.02 during trading on Friday, reaching $13.42. The company had a trading volume of 45,941 shares, compared to its average volume of 134,273. Sonim Technologies has a 52 week low of $9.66 and a 52 week high of $18.26. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 21.31. The business’s 50 day moving average is $14.34.

Sonim Technologies (NASDAQ:SONM) last announced its earnings results on Monday, June 24th. The company reported ($0.39) earnings per share for the quarter. The business had revenue of $26.48 million for the quarter. As a group, equities research analysts forecast that Sonim Technologies will post 0.12 earnings per share for the current year.

In other Sonim Technologies news, Director John Kneuer purchased 3,147 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $16.98 per share, for a total transaction of $53,436.06. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert Plaschke sold 30,000 shares of Sonim Technologies stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.23, for a total transaction of $306,900.00. The disclosure for this sale can be found here.

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; and cloud-based software and application services.

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Analyst Recommendations for Sonim Technologies (NASDAQ:SONM)

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