Sonos Inc (NASDAQ:SONO) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.83.

Several equities research analysts have recently commented on the company. Royal Bank of Canada assumed coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $25.00 price target on the stock. Raymond James assumed coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $24.00 price target on the stock. Jefferies Financial Group started coverage on Sonos in a research note on Monday, August 27th. They set a “hold” rating and a $23.00 price target on the stock. Stifel Nicolaus started coverage on Sonos in a research note on Monday, August 27th. They issued a “hold” rating and a $20.00 target price on the stock. Finally, Morgan Stanley started coverage on Sonos in a research note on Monday, August 27th. They issued an “equal weight” rating and a $20.00 target price on the stock.

A hedge fund recently bought a new stake in Sonos stock. CenterStar Asset Management LLC bought a new stake in Sonos Inc (NASDAQ:SONO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,138 shares of the healthcare company’s stock, valued at approximately $117,000.

Shares of NASDAQ:SONO opened at $12.68 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 1.90. Sonos has a 12 month low of $12.30 and a 12 month high of $23.60.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Monday, September 10th. The healthcare company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.23). The firm had revenue of $208.40 million during the quarter, compared to analyst estimates of $207.94 million. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts forecast that Sonos will post -0.26 earnings per share for the current fiscal year.

About Sonos

Sonos, Inc, through its subsidiaries, designs, develops, manufactures, and sells multi-room audio products primarily for use in private residences in the United States and internationally. It offers wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores and e-commerce retailers, as well as through its sonos.com Website.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Sonos (NASDAQ:SONO)

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