Sonos (SONO) Scheduled to Post Quarterly Earnings on Tuesday

Sonos (NASDAQ:SONO) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect Sonos to post earnings of ($0.27) per share for the quarter. Sonos has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.47 by $0.22. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The business had revenue of $612.87 million for the quarter, compared to analyst estimates of $588.96 million. On average, analysts expect Sonos to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sonos Stock Up 0.6 %

Shares of SONO stock opened at $17.05 on Friday. The firm has a market cap of $2.11 billion, a P/E ratio of -568.14 and a beta of 2.00. The company has a 50 day moving average of $18.23 and a 200-day moving average of $16.28. Sonos has a 12-month low of $9.78 and a 12-month high of $21.98.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SONO. Rosenblatt Securities reissued a “buy” rating and issued a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley raised their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Buying and Selling at Sonos

In other news, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the sale, the director now directly owns 37,334 shares of the company’s stock, valued at approximately $683,585.54. The disclosure for this sale can be found here. Insiders have sold 27,147 shares of company stock worth $484,972 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.