Sonos, Inc. (NASDAQ:SONO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sonos, Inc. (NASDAQ:SONO) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.00.

SONO has been the subject of several research analyst reports. Morgan Stanley set a $18.00 price objective on Sonos in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a research report on Thursday, January 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Sonos in a report on Monday, February 2nd. Finally, Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday.

Insider Buying and Selling at Sonos

In other news, insider Edward P. Lazarus sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $19.00, for a total value of $228,000.00. Following the transaction, the insider owned 423,219 shares of the company’s stock, valued at approximately $8,041,161. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Coliseum Capital Management, L bought 494,719 shares of Sonos stock in a transaction dated Wednesday, February 4th. The stock was purchased at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the purchase, the insider directly owned 15,424,999 shares in the company, valued at approximately $239,087,484.50. This trade represents a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 795,398 shares of company stock worth $12,564,091. 1.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Sonos by 22.4% during the 1st quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock worth $546,000 after purchasing an additional 9,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sonos by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock valued at $768,000 after purchasing an additional 3,483 shares during the last quarter. Intech Investment Management LLC boosted its stake in Sonos by 38.5% in the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after buying an additional 42,006 shares during the last quarter. Strs Ohio purchased a new stake in Sonos in the 1st quarter valued at about $147,000. Finally, CWM LLC increased its stake in shares of Sonos by 2,064.7% during the 2nd quarter. CWM LLC now owns 59,896 shares of the company’s stock valued at $647,000 after acquiring an additional 57,129 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Price Performance

Shares of SONO opened at $17.45 on Wednesday. Sonos has a 1-year low of $7.63 and a 1-year high of $19.82. The stock has a market cap of $2.11 billion, a PE ratio of -102.65 and a beta of 2.05. The firm has a fifty day moving average price of $17.01 and a 200 day moving average price of $15.90.

Sonos (NASDAQ:SONO) last posted its earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The business had revenue of $545.66 million for the quarter, compared to analysts’ expectations of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, equities analysts expect that Sonos will post -0.37 EPS for the current fiscal year.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.