Shares of Sonos Inc (NASDAQ:SONO) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.00.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Sonos from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, November 21st. Morgan Stanley upgraded Sonos from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $20.00 to $15.00 in a report on Monday, January 28th. Finally, Stifel Nicolaus cut their price target on Sonos from $20.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, February 7th.

Shares of Sonos stock opened at $10.02 on Friday. The stock has a market capitalization of $1.01 billion and a PE ratio of -41.75. Sonos has a one year low of $9.23 and a one year high of $23.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.63 and a current ratio of 2.03.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $490.66 million. The business’s revenue for the quarter was up 193.5% compared to the same quarter last year. Analysts predict that Sonos will post -0.02 earnings per share for the current fiscal year.

In related news, CFO Michael Giannetto sold 30,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.94, for a total transaction of $298,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick Spence sold 8,610 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $11.45, for a total value of $98,584.50. The disclosure for this sale can be found here. Insiders have sold 2,105,857 shares of company stock worth $23,265,799 in the last quarter. 15.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in Sonos by 53.2% during the fourth quarter. Advisor Group Inc. now owns 4,377 shares of the company’s stock worth $43,000 after acquiring an additional 1,520 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Sonos during the fourth quarter worth about $44,000. Bank of America Corp DE raised its stake in Sonos by 69.8% in the fourth quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock valued at $98,000 after buying an additional 4,113 shares during the period. American International Group Inc. bought a new stake in Sonos in the third quarter valued at approximately $171,000. Finally, Rhumbline Advisers bought a new stake in Sonos in the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 46.50% of the company’s stock.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

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Analyst Recommendations for Sonos (NASDAQ:SONO)

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