Stocks of Sonos Inc. (NASDAQ:SONO) traded higher last session on Wall Street, down -0.07% to $13.86.
According to the data, Sonos Inc. (NASDAQ:SONO) has 8 analysts covering its stock. 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 $20.00. Given the previous closing price of $13.87, this indicates a potential upside of 44.2 percent. SONO stock price is now -14.18% away from the 50-day moving average and -21.97% away from the 200-day moving average. The market capitalization of the company currently stands at $1.84B.
A total of 4 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $20.80 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, Bouvat-Merlin Maxime, Chief Product Officer sold 7,496 shares of the company’s stock on Aug 15. The stock was sold for $105,531 at an average price of $14.08. Upon completion of the transaction, the Chief Product Officer now directly owns 21,681 shares in the company, valued at $0.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, Director Coles Joanna sold 905 shares of the business’s stock. A total of $14,987 was realized by selling the stock at an average price of $16.56. This leaves the insider owning 20,248 shares of the company worth $0.28 million. Insiders disposed of 372,997 shares of company stock worth roughly $5.17 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 VOLORIDGE INVESTMENT MANAGEMENT, LLC during the first quarter worth $6,106,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. invested $4,776,000 in shares of SONO during the first quarter. In the first quarter, CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in Sonos Inc. valued at approximately $2,754,000. GSA CAPITAL PARTNERS LLP acquired a new stake in SONO for approximately $2,219,000. GTS SECURITIES LLC purchased a new stake in SONO valued at around $902,000 in the second quarter. In total, there are 399 active investors with 89.40% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $13.88 for Sonos Inc. (NASDAQ: SONO). During the past 12 months, Sonos Inc. has had a low of $13.65 and a high of $21.98. 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 $16.11 and a two-hundred day moving average price translates $17.75 for the stock.
The latest earnings results from Sonos Inc. (NASDAQ: SONO) was released for Jun, 2023. According to the Consumer Electronics Company, earnings per share came in at -$0.18, beating analysts’ expectations of -$0.2 by 0.02. This compares to $0.00 EPS in the same period last year. The net profit margin was 1.10% and return on equity was 3.10% for SONO. The company reported revenue of $373.36 million for the quarter, compared to $371.78 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.42 percent. For the current quarter, analysts expect SONO to generate $302.95M 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.
