Sonim Technologies Inc (NASDAQ:SONM) Receives $12.17 Average Price Target from Analysts

Sonim Technologies Inc (NASDAQ:SONM) has earned a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.17.

Several research analysts have commented on SONM shares. ValuEngine raised Sonim Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. B. Riley cut their price target on Sonim Technologies from $18.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Zacks Investment Research raised Sonim Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Oppenheimer lowered Sonim Technologies from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a research report on Thursday, October 31st. Finally, UBS Group reaffirmed an “outperform” rating and set a $6.00 price target (down previously from $18.00) on shares of Sonim Technologies in a research report on Wednesday, September 11th.

NASDAQ SONM traded up $0.29 during trading on Tuesday, hitting $2.43. The stock had a trading volume of 156,300 shares, compared to its average volume of 168,671. Sonim Technologies has a twelve month low of $2.10 and a twelve month high of $18.26. The business’s 50 day moving average is $2.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.25 and a quick ratio of 1.53.

Sonim Technologies (NASDAQ:SONM) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The business had revenue of $28.85 million during the quarter, compared to the consensus estimate of $31.25 million. On average, analysts anticipate that Sonim Technologies will post -0.63 EPS for the current fiscal year.

In related news, major shareholder Brc Partners Opportunity Fund, bought 25,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $2.23 per share, with a total value of $56,865.00.

Several large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Sonim Technologies in the third quarter valued at approximately $181,000. River & Mercantile Asset Management LLP acquired a new position in shares of Sonim Technologies in the second quarter valued at approximately $1,209,000. Park West Asset Management LLC acquired a new position in shares of Sonim Technologies in the second quarter valued at approximately $1,273,000. Jane Street Group LLC acquired a new position in shares of Sonim Technologies in the second quarter valued at approximately $259,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sonim Technologies in the second quarter valued at approximately $424,000. 45.37% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Sonim Technologies (NASDAQ:SONM)

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