Sonos Inc (NASDAQ:SONO) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.33.
A number of research analysts recently issued reports on SONO shares. Zacks Investment Research upgraded Sonos from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, January 30th. DA Davidson started coverage on Sonos in a report on Monday, April 1st. They set a “buy” rating and a $20.00 price objective for the company. ValuEngine downgraded Sonos from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Stifel Nicolaus decreased their price target on Sonos from $20.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, February 7th. Finally, Morgan Stanley upgraded Sonos from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $20.00 to $15.00 in a research note on Monday, January 28th.
Get Sonos alerts: In other Sonos news, major shareholder Ventures Growth I. (Jerse Index sold 6,871 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $11.00, for a total value of $75,581.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Also, insider Nicholas Millington sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $11.95, for a total value of $298,750.00. The disclosure for this sale can be found here . Over the last 90 days, insiders sold 2,160,857 shares of company stock valued at $23,914,649. Corporate insiders own 15.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Sonos by 127.4% in the first quarter. JPMorgan Chase & Co. now owns 2,073,157 shares of the company’s stock valued at $21,332,000 after buying an additional 1,161,411 shares during the last quarter. Greenspring Associates Inc. acquired a new stake in shares of Sonos in the fourth quarter valued at approximately $17,360,000. Spark Investment Management LLC lifted its position in shares of Sonos by 429.4% in the first quarter. Spark Investment Management LLC now owns 1,470,400 shares of the company’s stock valued at $15,130,000 after buying an additional 1,192,658 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of Sonos in the third quarter valued at approximately $17,459,000. Finally, Vanguard Group Inc acquired a new stake in shares of Sonos in the third quarter valued at approximately $17,459,000. 47.90% of the stock is owned by institutional investors.
Shares of NASDAQ:SONO traded up $0.56 during mid-day trading on Friday, reaching $10.82. 2,660,956 shares of the stock were exchanged, compared to its average volume of 912,782. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.63 and a current ratio of 2.03. The company has a market cap of $1.03 billion and a PE ratio of -45.08. Sonos has a one year low of $9.23 and a one year high of $23.60.
Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.13. The business had revenue of $210.20 million during the quarter, compared to the consensus estimate of $213.42 million. Sonos had a return on equity of 8.06% and a net margin of 0.85%. Sonos’s revenue was up 12.6% on a year-over-year basis. On average, research analysts predict that Sonos will post -0.01 earnings per share for the current fiscal year.
Sonos Company Profile
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.
Further Reading: Debt-To-Equity Ratio
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