The stock of Sonos Inc. (NASDAQ:SONO) last traded at $15.08, up 0.73% from the previous session.
Data from the available sources indicates that Sonos Inc. (NASDAQ:SONO) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $19.00, we find $22.85. Given the previous closing price of $14.97, this indicates a potential upside of 52.64 percent. SONO stock price is now -22.20% away from the 50-day moving average and -14.71% away from the 200-day moving average. The market capitalization of the company currently stands at $1.93B.
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In total, 3 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $22.18 as their price target over the next twelve months.
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In other news, Bouvat-Merlin Maxime, Chief Product Officer sold 6,060 shares of the company’s stock on May 15. The stock was sold for $93,356 at an average price of $15.41. Upon completion of the transaction, the Chief Product Officer now directly owns 29,177 shares in the company, valued at $0.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 03, Director Coles Joanna sold 905 shares of the business’s stock. A total of $19,367 was realized by selling the stock at an average price of $21.40. This leaves the insider owning 22,963 shares of the company worth $0.35 million. Insiders disposed of 687,301 shares of company stock worth roughly $10.36 million over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SONO stock. A new stake in Sonos Inc. shares was purchased by SCHRODER INVESTMENT MANAGEMENT GROUP during the first quarter worth $17,923,000. SQUAREPOINT OPS LLC invested $5,545,000 in shares of SONO during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Sonos Inc. valued at approximately $2,818,000. RIPOSTE CAPITAL LLC acquired a new stake in SONO for approximately $2,564,000. FUND 1 INVESTMENTS, LLC purchased a new stake in SONO valued at around $1,528,000 in the second quarter. In total, there are 413 active investors with 89.40% ownership of the company’s stock.
With an opening price of $14.91 on Tuesday morning, Sonos Inc. (NASDAQ: SONO) set off the trading day. During the past 12 months, Sonos Inc. has had a low of $13.65 and a high of $24.56. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.10, and a quick ratio of 1.20. The fifty day moving average price for SONO is $19.30 and a two-hundred day moving average price translates $17.64 for the stock.
The latest earnings results from Sonos Inc. (NASDAQ: SONO) was released for Mar, 2023. According to the Consumer Electronics Company, earnings per share came in at -$0.24, missing analysts’ expectations of -$0.18 by -0.06. This compares to $0.06 EPS in the same period last year. The net profit margin was -1.20% and return on equity was -3.30% for SONO. The company reported revenue of $304.17 million for the quarter, compared to $399.78 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.92 percent. For the current quarter, analysts expect SONO to generate $338.9M in revenue.
Sonos Inc.(SONO) Company Profile
Sonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its Website sonos.com. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is headquartered in Santa Barbara, California.
