In yesterday’s Wall Street session, Sonos Inc. (NASDAQ:SONO) shares traded at $16.66, up 2.78% from the previous session.
As of this writing, 7 analysts cover Sonos Inc. (NASDAQ:SONO). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $23.70 and a low of $19.00, we find $22.00. Given the previous closing price of $16.21, this indicates a potential upside of 35.72 percent. SONO stock price is now -0.79% away from the 50-day moving average and -4.83% away from the 200-day moving average. The market capitalization of the company currently stands at $2.10B.
There are 3 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $21.68 as their price target over the next twelve months.
With the price target reduced from $38 to $28, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Sonos Inc. (NASDAQ: SONO).
In other news, Coles Joanna, Director sold 905 shares of the company’s stock on Jul 03. The stock was sold for $14,860 at an average price of $16.42. Upon completion of the transaction, the Director now directly owns 21,153 shares in the company, valued at $0.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, Director Coles Joanna sold 905 shares of the business’s stock. A total of $13,575 was realized by selling the stock at an average price of $15.00. This leaves the insider owning 22,058 shares of the company worth $0.37 million. Insiders disposed of 531,412 shares of company stock worth roughly $8.85 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 $19,801,000. SQUAREPOINT OPS LLC invested $6,126,000 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 $3,113,000. RIPOSTE CAPITAL LLC acquired a new stake in SONO for approximately $2,832,000. DUALITY ADVISERS, LP purchased a new stake in SONO valued at around $1,718,000 in the second quarter. In total, there are 413 active investors with 89.40% ownership of the company’s stock.
Monday morning saw Sonos Inc. (NASDAQ: SONO) opened at $16.22. 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 $16.72 and a two-hundred day moving average price translates $17.51 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 $334.24M in revenue.
