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


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Sonos, Inc. (NASDAQ:SONO) has been given a consensus rating of “Hold” by the ten research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.14.

Several research firms have recently weighed in on SONO. The Goldman Sachs Group raised shares of Sonos from a “sell” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $37.00 in a report on Thursday, February 11th. Morgan Stanley lifted their target price on shares of Sonos from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. Zacks Investment Research lowered shares of Sonos from a “buy” rating to a “hold” rating in a report on Friday, January 15th. Finally, Stifel Nicolaus lifted their target price on shares of Sonos from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, March 10th.

SONO traded up $1.23 during trading on Friday, reaching $41.46. 180,762 shares of the company’s stock were exchanged, compared to its average volume of 2,975,157. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.22. The stock has a market capitalization of $4.96 billion, a P/E ratio of -164.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.93. The company’s fifty day simple moving average is $39.07 and its 200-day simple moving average is $25.74. Sonos has a 1 year low of $8.20 and a 1 year high of $43.71.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, February 10th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.17. The firm had revenue of $645.60 million during the quarter, compared to analyst estimates of $589.86 million. Sonos had a negative net margin of 1.52% and a positive return on equity of 3.32%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Equities analysts forecast that Sonos will post 0.68 EPS for the current year.

In other Sonos news, CEO Patrick Spence sold 65,237 shares of Sonos stock in a transaction on Friday, January 15th. The shares were sold at an average price of $25.96, for a total transaction of $1,693,552.52. Following the sale, the chief executive officer now owns 227,520 shares of the company’s stock, valued at approximately $5,906,419.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Millington sold 4,354 shares of Sonos stock in a transaction on Friday, January 8th. The stock was sold at an average price of $25.03, for a total transaction of $108,980.62. Following the sale, the insider now directly owns 122,443 shares in the company, valued at approximately $3,064,748.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 625,829 shares of company stock worth $21,091,460. 11.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc acquired a new position in shares of Sonos during the 4th quarter valued at about $27,000. Captrust Financial Advisors boosted its position in shares of Sonos by 366.7% during the 4th quarter. Captrust Financial Advisors now owns 1,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Sonos during the 4th quarter valued at about $61,000. Advisory Services Network LLC boosted its position in shares of Sonos by 76.2% during the 4th quarter. Advisory Services Network LLC now owns 3,583 shares of the company’s stock valued at $84,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Garde Capital Inc. acquired a new position in shares of Sonos during the 4th quarter valued at about $101,000. 64.27% of the stock is currently owned by hedge funds and other institutional investors.

About Sonos

Sonos, Inc provides multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts, and audiobooks, with control from Android smartphones, iPhone, or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.

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Analyst Recommendations for Sonos (NASDAQ:SONO)

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