Oppenheimer analyst Andrew Uerkwitz assigned a Hold rating to Sonim Technologies (SONM) today. The company’s shares closed last Thursday at $0.50, close to its 52-week low of $0.42.
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 23.5% and a 61.5% success rate. Uerkwitz covers the Technology sector, focusing on stocks such as Tyler Technologies, Axon Enterprise, and Unity Software.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sonim Technologies with a $2.00 average price target.
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Based on Sonim Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $21.06 million and GAAP net loss of $7.1 million. In comparison, last year the company earned revenue of $43.75 million and had a GAAP net loss of $5.6 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SONM in relation to earlier this year.
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Sonim Technologies, Inc. engages in the design and manufacture of mission-critical smart phone-based solutions for workers in extreme, hazardous, and isolated environments. Its products include ultra-rugged mobile phones, business process applications, and a suite of industrial-grade accessories. The company was founded by Ram Chandran, Isaac Eteminan, Anush Gopalan, Jai Kumar, Sudu Srinivasan, and Joakim Wiklund on August 5, 1999 and is headquartered in San Mateo, CA.
