Sonos Inc (NASDAQ:SONO) has received an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $16.80.

SONO has been the subject of a number of research reports. Raymond James upgraded Sonos from an “outperform” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Monday, August 19th. DA Davidson set a $20.00 target price on shares of Sonos and gave the company a “buy” rating in a report on Monday. Zacks Investment Research downgraded shares of Sonos from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Jefferies Financial Group upped their price target on shares of Sonos from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th.

In other Sonos news, insider Nicholas Millington sold 16,893 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $11.48, for a total transaction of $193,931.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Sonos by 673.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,345 shares of the company’s stock valued at $27,000 after buying an additional 2,042 shares during the period. Swiss National Bank lifted its stake in shares of 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 during the period. Quantamental Technologies LLC acquired a new stake in shares of Sonos in the 2nd quarter worth $32,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Sonos by 610.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,836 shares of the company’s stock valued at $39,000 after acquiring an additional 3,296 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Sonos by 37.8% in the second quarter. GSA Capital Partners LLP now owns 14,379 shares of the company’s stock valued at $163,000 after acquiring an additional 3,941 shares in the last quarter. 63.58% of the stock is owned by hedge funds and other institutional investors.

Shares of Sonos stock traded up $0.01 on Friday, hitting $15.23. The stock had a trading volume of 1,266,345 shares, compared to its average volume of 1,308,795. Sonos has a 52-week low of $9.23 and a 52-week high of $17.77. The company has a current ratio of 2.06, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.57 billion and a price-to-earnings ratio of -63.46. The company’s 50 day moving average price is $12.47 and its 200 day moving average price is $11.22.

Sonos (NASDAQ:SONO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.10. The firm had revenue of $260.12 million during the quarter, compared to analysts’ expectations of $245.54 million. Sonos had a return on equity of 8.69% and a net margin of 1.86%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. Analysts predict that Sonos will post 0.01 EPS for the current fiscal year.

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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