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

Shares of Sonos, Inc. (NASDAQ:SONO) have received an average recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.00.

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Sonos from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $21.00 price objective on shares of Sonos in a research note on Monday, June 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Crestwood Capital Management L.P. lifted its stake in Sonos by 19.4% in the third quarter. Crestwood Capital Management L.P. now owns 615,000 shares of the company’s stock valued at $9,717,000 after buying an additional 100,000 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Sonos in the third quarter valued at approximately $4,446,000. Vanguard Group Inc. lifted its stake in Sonos by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock valued at $244,704,000 after buying an additional 204,934 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in Sonos by 190.3% in the third quarter. Tudor Investment Corp ET AL now owns 722,740 shares of the company’s stock valued at $11,419,000 after buying an additional 473,769 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Sonos by 46.2% in the fourth quarter. BNP Paribas Financial Markets now owns 951,810 shares of the company’s stock valued at $16,714,000 after buying an additional 300,735 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Performance

Shares of NASDAQ SONO opened at $14.68 on Tuesday. The firm has a market capitalization of $1.75 billion, a PE ratio of 86.36 and a beta of 1.93. Sonos has a 1 year low of $9.65 and a 1 year high of $19.82. The firm’s 50-day moving average is $14.86 and its 200-day moving average is $15.51.

Sonos Company Profile

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.