Sonos Inc (NASDAQ:SONO) Receives Average Recommendation of “Buy” from Analysts

Shares of Sonos Inc (NASDAQ:SONO) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the company, reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.00.

SONO has been the subject of several recent research reports. Zacks Investment Research downgraded Sonos from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. ValuEngine downgraded Sonos from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada assumed coverage on Sonos in a research note on Tuesday, November 12th. They set an “outperform” rating and a $18.00 target price for the company.

In other news, insider Nicholas Millington sold 36,453 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.86, for a total transaction of $578,144.58. Following the transaction, the insider now owns 79,482 shares of the company’s stock, valued at $1,260,584.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.40% of the company’s stock.

Several hedge funds have recently modified their holdings of SONO. Tower Research Capital LLC TRC lifted its holdings in Sonos by 673.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,345 shares of the company’s stock worth $27,000 after acquiring an additional 2,042 shares during the last quarter. Quantamental Technologies LLC bought a new position in Sonos in the second quarter worth about $32,000. Strs Ohio bought a new position in Sonos in the third quarter worth about $54,000. First Mercantile Trust Co. bought a new position in Sonos in the third quarter worth about $82,000. Finally, Fisher Asset Management LLC bought a new position in Sonos in the third quarter worth about $154,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ SONO traded down $0.31 during trading hours on Thursday, hitting $14.60. The company had a trading volume of 1,108,200 shares, compared to its average volume of 1,253,733. Sonos has a fifty-two week low of $9.62 and a fifty-two week high of $15.98. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -292.00 and a beta of 1.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 1.14. The firm’s 50 day moving average is $14.56 and its 200 day moving average is $13.32.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Wednesday, November 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sonos had a negative net margin of 0.38% and a negative return on equity of 1.68%. The company had revenue of $294.00 million during the quarter, compared to analyst estimates of $289.05 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Sonos will post -0.12 EPS for the current year.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its Website.

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Analyst Recommendations for Sonos (NASDAQ:SONO)

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