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Sonim (SONM) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Sonim (SONM) closed at $0.68, marking a +0.88% move from the previous day. This change outpaced the S&P 500's 0.67% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Coming into today, shares of the company had gained 24.2% in the past month. In that same time, the Computer and Technology sector gained 9.67%, while the S&P 500 gained 7.79%.

Sonim will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for Sonim. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sonim is currently sporting a Zacks Rank of #3 (Hold).

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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