Sonos Inc (NASDAQ:SONO) Given Average Recommendation of “Buy” by Brokerages
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.
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.
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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