Sonos, Inc. (NASDAQ:SONO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sonos, Inc. (NASDAQ:SONO) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $21.00.

SONO has been the topic of several recent analyst reports. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Rosenblatt Securities restated a “buy” rating and issued a $24.00 target price on shares of Sonos in a report on Monday, March 25th. Finally, Morgan Stanley upped their price objective on shares of Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th.

Insider Activity

In other news, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the transaction, the director now owns 37,334 shares in the company, valued at $683,585.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 7,147 shares of company stock worth $132,572. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Sonos

A number of institutional investors and hedge funds have recently made changes to their positions in SONO. Public Employees Retirement System of Ohio raised its holdings in shares of Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock worth $25,000 after acquiring an additional 777 shares during the last quarter. State of Wyoming acquired a new stake in shares of Sonos in the 2nd quarter worth about $31,000. GAMMA Investing LLC bought a new stake in Sonos in the 4th quarter worth about $35,000. First Manhattan Co. bought a new stake in Sonos in the 1st quarter worth about $36,000. Finally, Pacific Center for Financial Services bought a new stake in Sonos in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Stock Up 0.2 %

SONO stock opened at $18.13 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -604.33 and a beta of 1.99. Sonos has a 12-month low of $9.78 and a 12-month high of $21.98. The company’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $15.68.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analyst estimates of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. Research analysts expect that Sonos will post 0.31 earnings per share for the current year.

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.