Analysts Set Sonos, Inc. (NASDAQ:SONO) Price Target at $20.00

Sonos, Inc. (NASDAQ:SONO) has been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.00.

A number of brokerages recently issued reports on SONO. Zacks Research raised Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Jefferies Financial Group boosted their price objective on shares of Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Morgan Stanley set a $18.00 target price on shares of Sonos in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Monday, February 2nd.

Sonos Price Performance

NASDAQ:SONO opened at $15.51 on Wednesday. Sonos has a 12 month low of $7.63 and a 12 month high of $19.82. The firm has a market capitalization of $1.87 billion, a PE ratio of -91.24 and a beta of 2.05. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $15.93.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The company had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. During the same period in the previous year, the business earned $0.64 EPS. Sonos’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts anticipate that Sonos will post -0.37 EPS for the current year.

Insider Activity

In other Sonos news, insider Edward P. Lazarus sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $19.00, for a total value of $228,000.00. Following the completion of the sale, the insider owned 423,219 shares in the company, valued at approximately $8,041,161. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Coliseum Capital Management, L acquired 26,824 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was purchased at an average cost of $16.49 per share, with a total value of $442,327.76. Following the completion of the acquisition, the insider directly owned 15,663,353 shares of the company’s stock, valued at approximately $258,288,690.97. This trade represents a 0.17% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 795,398 shares of company stock valued at $12,564,091. Insiders own 1.25% of the company’s stock.

Institutional Trading of Sonos

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Sonos by 10.2% during the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock worth $120,000 after purchasing an additional 631 shares during the period. Centaurus Financial Inc. raised its holdings in shares of Sonos by 6.6% in the third quarter. Centaurus Financial Inc. now owns 11,056 shares of the company’s stock valued at $175,000 after buying an additional 681 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Sonos by 2.3% during the third quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock worth $505,000 after buying an additional 706 shares during the period. Intech Investment Management LLC boosted its stake in shares of Sonos by 0.7% during the fourth quarter. Intech Investment Management LLC now owns 117,718 shares of the company’s stock worth $2,067,000 after buying an additional 776 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Sonos by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company’s stock worth $955,000 after buying an additional 833 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.