Brokerages Set Sonim Technologies Inc (NASDAQ:SONM) Target Price at $12.17

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Shares of Sonim Technologies Inc (NASDAQ:SONM) have received an average rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $12.17.

A number of research analysts have recently weighed in on the company. 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 note on Wednesday, September 11th. 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. Zacks Investment Research raised Sonim Technologies from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. ValuEngine upgraded Sonim Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, UBS Group reissued an “outperform” rating and issued a $6.00 target price (down previously from $18.00) on shares of Sonim Technologies in a research note on Wednesday, September 11th.

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

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Sonim Technologies in the 2nd quarter valued at approximately $175,000. Oppenheimer & Co. Inc. bought a new stake in Sonim Technologies during the 3rd quarter worth approximately $181,000. Northern Trust Corp bought a new stake in Sonim Technologies during the 2nd quarter worth approximately $255,000. Jane Street Group LLC acquired a new stake in Sonim Technologies during the 2nd quarter worth approximately $259,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sonim Technologies during the 2nd quarter worth approximately $424,000. Institutional investors and hedge funds own 39.86% of the company’s stock.

Shares of NASDAQ SONM opened at $2.48 on Friday. Sonim Technologies has a fifty-two week low of $2.10 and a fifty-two week high of $18.26. The company has a current ratio of 2.22, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $2.64.

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

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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