Sonos, Inc. (NASDAQ:SONO) Receives Consensus Rating of “Hold” from Analysts

Shares of Sonos, Inc. (NASDAQ:SONO) have received an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.00.

SONO has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Zacks Research cut Sonos from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research report on Thursday, January 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Sonos in a research report on Monday, February 2nd.

Sonos Price Performance

Shares of SONO stock opened at $13.28 on Thursday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -78.12 and a beta of 1.99. The stock has a 50 day simple moving average of $14.56 and a 200-day simple moving average of $16.17. Sonos has a 1-year low of $7.63 and a 1-year high of $19.82.

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

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average cost of $13.57 per share, for a total transaction of $1,696,250.00. Following the completion of the transaction, the insider owned 18,070,762 shares of the company’s stock, valued at $245,220,240.34. This trade represents a 0.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 3,140,482 shares of company stock worth $46,905,007 in the last three months. 1.25% of the stock is currently owned by insiders.

Institutional Trading of Sonos

Several large investors have recently made changes to their positions in SONO. AQR Capital Management LLC increased its position in shares of Sonos by 22.4% during the first quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock worth $546,000 after purchasing an additional 9,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sonos by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock valued at $768,000 after buying an additional 3,483 shares in the last quarter. Intech Investment Management LLC grew its holdings in Sonos by 38.5% in the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock valued at $1,613,000 after buying an additional 42,006 shares in the last quarter. Strs Ohio purchased a new stake in Sonos in the 1st quarter valued at $147,000. Finally, Creative Planning grew its holdings in Sonos by 102.2% in the 2nd quarter. Creative Planning now owns 43,358 shares of the company’s stock valued at $469,000 after buying an additional 21,915 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Company Profile

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.