Oppenheimer Brokers Boost Earnings Estimates for Sonim Technologies Inc (NASDAQ:SONM)

Sonim Technologies Inc (NASDAQ:SONM) – Stock analysts at Oppenheimer upped their FY2020 earnings estimates for Sonim Technologies in a research note issued on Monday, June 24th, Zacks Investment Research reports. Oppenheimer analyst A. Uerkwitz now expects that the company will post earnings per share of $0.58 for the year, up from their prior forecast of $0.55. Oppenheimer currently has a “Outperform” rating and a $18.00 target price on the stock. Oppenheimer also issued estimates for Sonim Technologies’ FY2021 earnings at $1.07 EPS.

Sonim Technologies (NASDAQ:SONM) last posted its quarterly earnings data on Monday, June 24th. The company reported ($0.39) earnings per share (EPS) for the quarter. The firm had revenue of $26.48 million for the quarter.

SONM has been the subject of a number of other research reports. National Securities raised 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 note on Tuesday, July 9th. CIBC began coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an “outperform” rating and a $55.00 price objective on the stock. B. Riley began coverage on shares of Sonim Technologies in a research report on Thursday. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Lake Street Capital began coverage on shares of Sonim Technologies in a research report on Tuesday, June 4th. They set a “buy” rating and a $19.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $17.80.

Shares of NASDAQ:SONM traded down $0.35 during midday trading on Wednesday, hitting $13.40. 40,386 shares of the stock were exchanged, compared to its average volume of 161,364. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 21.31. Sonim Technologies has a 52-week low of $9.66 and a 52-week high of $18.26. The stock’s fifty day moving average is $14.37.

In other Sonim Technologies news, Director John Kneuer acquired 3,147 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $16.98 per share, with a total value of $53,436.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Plaschke sold 30,000 shares of the firm’s 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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