Sonos, Inc. (NASDAQ:SONO) Receives $21.00 Consensus PT from Brokerages

Shares of Sonos, Inc. (NASDAQ:SONO) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts have recently issued reports on SONO shares. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. Morgan Stanley boosted their target price on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $24.00 price target on shares of Sonos in a research report on Monday, March 25th.

Insider Buying and Selling at Sonos

In related news, Director Thomas Conrad sold 5,337 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total transaction of $97,720.47. Following the sale, the director now owns 37,334 shares of the company’s stock, valued at $683,585.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now owns 37,334 shares of the company’s stock, valued at approximately $683,585.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the sale, the insider now directly owns 119,179 shares in the company, valued at $2,099,933.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,147 shares of company stock worth $484,972. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SONO. SG Americas Securities LLC acquired a new position in Sonos in the third quarter valued at $826,000. Exchange Traded Concepts LLC purchased a new position in shares of Sonos during the 3rd quarter worth about $173,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sonos by 7.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,297 shares of the company’s stock worth $1,037,000 after acquiring an additional 5,892 shares during the period. Meitav Investment House Ltd. boosted its position in shares of Sonos by 9.5% in the third quarter. Meitav Investment House Ltd. now owns 230,689 shares of the company’s stock worth $2,945,000 after acquiring an additional 20,100 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Sonos by 0.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,013,939 shares of the company’s stock valued at $13,090,000 after purchasing an additional 8,802 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Price Performance

Sonos stock opened at $17.88 on Tuesday. Sonos has a one year low of $9.78 and a one year high of $21.98. The business has a fifty day moving average of $18.21 and a two-hundred day moving average of $16.36.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.47 by $0.22. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The firm had revenue of $612.87 million during the quarter, compared to analysts’ expectations of $588.96 million. On average, analysts expect that Sonos will post 0.31 earnings per share for the current fiscal year.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company 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.