Sonos Inc (NASDAQ:SONO) Receives Consensus Rating of “Hold” from Analysts

Shares of Sonos Inc (NASDAQ:SONO) have been given an average rating of “Hold” by the twelve analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of equities analysts recently commented on the company. Bank of America lifted their price target on Sonos from $12.90 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. DA Davidson lifted their target price on Sonos from $12.00 to $16.00 in a research note on Tuesday, August 11th. ValuEngine downgraded Sonos from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their target price on Sonos from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Investment Research downgraded Sonos from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th.

NASDAQ:SONO traded up $0.34 during mid-day trading on Tuesday, reaching $15.04. The stock had a trading volume of 5,627,770 shares, compared to its average volume of 3,360,728. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -22.12 and a beta of 1.65. Sonos has a 1-year low of $6.58 and a 1-year high of $17.83. The stock’s 50 day simple moving average is $13.98 and its two-hundred day simple moving average is $12.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.89 and a quick ratio of 1.55.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. The business had revenue of $249.31 million during the quarter, compared to the consensus estimate of $234.21 million. Sonos had a negative return on equity of 12.52% and a negative net margin of 5.32%. Sell-side analysts anticipate that Sonos will post -0.05 EPS for the current fiscal year.

In other Sonos news, insider Nicholas Millington sold 77,523 shares of Sonos stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $16.41, for a total transaction of $1,272,152.43. Following the transaction, the insider now directly owns 120,714 shares in the company, valued at approximately $1,980,916.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 143,951 shares of company stock worth $2,326,593. Corporate insiders own 11.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Sonos by 27.4% during the 2nd quarter. Principal Financial Group Inc. now owns 13,114 shares of the company’s stock valued at $192,000 after acquiring an additional 2,824 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Sonos by 19.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,630,320 shares of the company’s stock valued at $23,852,000 after acquiring an additional 266,614 shares in the last quarter. B. Riley Wealth Management Inc. grew its holdings in shares of Sonos by 8.9% during the 2nd quarter. B. Riley Wealth Management Inc. now owns 122,010 shares of the company’s stock valued at $1,785,000 after acquiring an additional 10,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Sonos by 234.8% during the 2nd quarter. AQR Capital Management LLC now owns 153,771 shares of the company’s stock valued at $2,250,000 after acquiring an additional 107,843 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Sonos by 109.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 6,173 shares of the company’s stock valued at $90,000 after acquiring an additional 3,230 shares in the last quarter. Hedge funds and other institutional investors own 66.47% of the company’s stock.

About Sonos

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.

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Analyst Recommendations for Sonos (NASDAQ:SONO)

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