Sonos Inc (NASDAQ:SONO) – Analysts at DA Davidson issued their Q2 2019 earnings estimates for shares of Sonos in a note issued to investors on Monday, April 1st. DA Davidson analyst T. Forte forecasts that the company will post earnings of ($0.31) per share for the quarter. DA Davidson has a “Buy” rating and a $20.00 price target on the stock. DA Davidson also issued estimates for Sonos’ Q3 2019 earnings at ($0.16) EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at $0.02 EPS, FY2020 earnings at $0.15 EPS, FY2021 earnings at $0.35 EPS, FY2022 earnings at $0.62 EPS and FY2023 earnings at $0.90 EPS.
Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $490.66 million. The firm’s quarterly revenue was up 193.5% on a year-over-year basis.
Shares of NASDAQ SONO opened at $11.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.03 and a quick ratio of 1.63. The firm has a market cap of $1.13 billion and a price-to-earnings ratio of -46.88. Sonos has a 1 year low of $9.23 and a 1 year high of $23.60.
Institutional investors have recently modified their holdings of the company. Maple Rock Capital Partners Inc. acquired a new stake in shares of Sonos in the third quarter worth $17,644,000. Wells Fargo & Company MN acquired a new stake in shares of Sonos in the third quarter worth $3,110,000. Vista Equity Partners Management LLC acquired a new stake in shares of Sonos in the third quarter worth $17,662,000. American International Group Inc. acquired a new stake in shares of Sonos in the third quarter worth $171,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Sonos in the third quarter worth $2,428,000. 48.25% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michelangelo Volpi sold 793,476 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $11.13, for a total value of $8,831,387.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Growth I. (Jerse Index sold 6,871 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $11.00, for a total value of $75,581.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,105,857 shares of company stock valued at $23,265,799. Corporate insiders own 15.40% of the company’s stock.
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 sonos.com Website.
Featured Article: What is channel trading?
Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.