Sonos, Inc. (NASDAQ:SONO) Given Consensus Recommendation of “Hold” by Analysts

Sonos, Inc. (NASDAQ:SONO) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.00.

Several analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th.

Sonos Price Performance

Shares of Sonos stock opened at $15.36 on Monday. Sonos has a 1 year low of $12.44 and a 1 year high of $19.82. The business has a fifty day simple moving average of $15.13 and a two-hundred day simple moving average of $14.74. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 34.13 and a beta of 1.93.

Sonos (NASDAQ:SONO) last announced its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities analysts anticipate that Sonos will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Sonos

In related news, Director Karen Boone sold 10,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total value of $153,900.00. Following the transaction, the director owned 84,271 shares of the company’s stock, valued at $1,296,930.69. This represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the transaction, the director directly owned 53,775 shares in the company, valued at approximately $914,175. This represents a 26.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sonos

Several institutional investors and hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. lifted its position in shares of Sonos by 6.6% in the 3rd quarter. Centaurus Financial Inc. now owns 11,056 shares of the company’s stock worth $175,000 after purchasing an additional 681 shares during the period. State of Wisconsin Investment Board increased its position in shares of Sonos by 1.7% during the 4th quarter. State of Wisconsin Investment Board now owns 43,982 shares of the company’s stock valued at $772,000 after purchasing an additional 724 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Sonos by 0.7% in the 4th quarter. Intech Investment Management LLC now owns 117,718 shares of the company’s stock worth $2,067,000 after purchasing an additional 776 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Sonos by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company’s stock worth $955,000 after purchasing an additional 833 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Sonos by 4.6% during the 4th quarter. ProShare Advisors LLC now owns 23,241 shares of the company’s stock valued at $408,000 after buying an additional 1,017 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.