Brokerages Set Sonos Inc (SONO) Target Price at $21.33

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Sonos Inc (NASDAQ:SONO) has been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.33.

SONO has been the subject of a number of research reports. Morgan Stanley initiated coverage on Sonos in a research note on Monday, August 27th. They issued an “equal weight” rating and a $20.00 target price for the company. Jefferies Financial Group initiated coverage on Sonos in a research note on Monday, August 27th. They issued a “hold” rating and a $23.00 target price for the company. Raymond James initiated coverage on Sonos in a research note on Monday, August 27th. They issued an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada initiated coverage on Sonos in a research note on Monday, August 27th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Goldman Sachs Group initiated coverage on Sonos in a research note on Monday, August 27th. They issued a “buy” rating and a $25.00 target price for the company.

NASDAQ:SONO opened at $12.51 on Wednesday. The stock has a market capitalization of $1.27 billion and a P/E ratio of -52.13. Sonos has a one year low of $11.09 and a one year high of $23.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.68 and a quick ratio of 1.03.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Thursday, November 15th. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $272.94 million during the quarter, compared to analyst estimates of $248.87 million. On average, analysts predict that Sonos will post 0.01 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. Vista Equity Partners Management LLC acquired a new position in Sonos in the third quarter valued at approximately $17,662,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Sonos during the third quarter worth approximately $17,644,000. Vanguard Group Inc. acquired a new position in shares of Sonos during the third quarter worth approximately $17,459,000. BlackRock Inc. acquired a new position in shares of Sonos during the third quarter worth approximately $15,623,000. Finally, Capital World Investors acquired a new position in shares of Sonos during the third quarter worth approximately $8,822,000. Institutional investors own 34.17% 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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