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

Shares of Sonos, Inc. (NASDAQ:SONO) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.00.

SONO has been the subject of several recent analyst reports. Weiss Ratings upgraded Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research report on Thursday, July 30th.

Sonos Price Performance

Shares of NASDAQ SONO opened at $15.36 on Monday. Sonos has a twelve month low of $12.44 and a twelve month high of $19.82. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 34.13 and a beta of 1.93. The company’s fifty day moving average is $15.13 and its 200-day moving average is $14.73.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.04 by $0.23. The business had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. On average, research analysts anticipate that Sonos will post 0.69 EPS for the current fiscal year.

Insider Activity at Sonos

In other news, Director Julius Genachowski sold 19,855 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares in the company, valued at $914,175. This represents a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a 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 Karen Boone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total transaction of $153,900.00. Following the sale, the director owned 84,271 shares in the company, valued at approximately $1,296,930.69. The trade was a 10.61% 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. Company insiders own 1.25% of the company’s stock.

Institutional Trading of Sonos

A number of institutional investors have recently modified their holdings of SONO. Amundi grew its holdings in shares of Sonos by 36.4% during the second quarter. Amundi now owns 47,353 shares of the company’s stock worth $641,000 after buying an additional 12,649 shares in the last quarter. California State Teachers Retirement System raised its position in Sonos by 1,036.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,555,950 shares of the company’s stock valued at $21,052,000 after buying an additional 1,419,010 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Sonos in the 2nd quarter valued at approximately $128,000. Formula Growth Ltd. bought a new stake in Sonos in the 2nd quarter valued at approximately $676,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Sonos during the 2nd quarter worth approximately $841,000. 85.82% of the stock is currently owned by institutional investors.

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.