ValuEngine upgraded shares of Sonos (NASDAQ:SONO) from a hold rating to a buy rating in a research note released on Tuesday, ValuEngine reports.

Several other research firms have also recently issued reports on SONO. Zacks Investment Research cut shares of Sonos from a buy rating to a hold rating in a research note on Wednesday, May 22nd. Raymond James upgraded shares of Sonos from an outperform rating to a strong-buy rating and set a $19.00 target price on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Sonos has an average rating of Buy and a consensus target price of $19.13.

Shares of Sonos stock opened at $13.66 on Tuesday. The stock has a market cap of $1.49 billion and a price-to-earnings ratio of -56.92. The firm’s 50-day moving average is $11.16 and its 200 day moving average is $10.95. Sonos has a 1 year low of $9.23 and a 1 year high of $22.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.06 and a quick ratio of 1.62.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.10. The business had revenue of $260.12 million for the quarter, compared to analysts’ expectations of $245.54 million. Sonos had a net margin of 1.86% and a return on equity of 8.69%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS.

In related news, insider Nicholas Millington sold 8,107 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.47, for a total value of $92,987.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Sonos by 673.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,345 shares of the company’s stock worth $27,000 after acquiring an additional 2,042 shares in the last quarter. Swiss National Bank increased its holdings in Sonos by 6.2% in the 2nd quarter. Swiss National Bank now owns 37,600 shares of the company’s stock worth $426,000 after acquiring an additional 2,200 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Sonos in the 2nd quarter worth approximately $32,000. BNP Paribas Arbitrage SA increased its holdings in Sonos by 610.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,836 shares of the company’s stock worth $39,000 after acquiring an additional 3,296 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Sonos by 37.8% in the 2nd quarter. GSA Capital Partners LLP now owns 14,379 shares of the company’s stock worth $163,000 after acquiring an additional 3,941 shares in the last quarter. 60.25% of the stock is owned by institutional investors.

Sonos Company Profile

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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