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

Sonos, Inc. (NASDAQ:SONO) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

A number of research analysts have recently weighed in on SONO shares. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd.

Insider Buying and Selling

In related news, Director Julius Genachowski sold 19,855 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares of the company’s stock, valued at approximately $914,175. The trade was a 26.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 46,766 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the completion of the transaction, the director directly owned 69,271 shares of the company’s stock, valued at approximately $1,255,883.23. This represents a 40.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 76,621 shares of company stock worth $1,339,303. 1.25% of the stock is owned by corporate insiders.

Institutional Trading of Sonos

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Sonos in the second quarter valued at $75,000. Squarepoint Ops LLC purchased a new position in Sonos during the second quarter worth about $1,191,000. Allworth Financial LP lifted its position in Sonos by 13.9% during the second quarter. Allworth Financial LP now owns 12,630 shares of the company’s stock worth $171,000 after buying an additional 1,540 shares during the period. Amundi grew its holdings in Sonos by 36.4% in the 2nd quarter. Amundi now owns 47,353 shares of the company’s stock valued at $641,000 after buying an additional 12,649 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Sonos during the 2nd quarter valued at about $128,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Stock Down 0.8%

Shares of SONO opened at $17.75 on Friday. Sonos has a 52-week low of $12.44 and a 52-week high of $19.82. The company has a 50-day simple moving average of $15.93 and a 200-day simple moving average of $14.93. The company has a market capitalization of $2.10 billion, a PE ratio of 39.45 and a beta of 1.88.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.23. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The company had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that Sonos will post 0.69 EPS for the current year.

Sonos Company Profile

Sonos, Inc is an audio technology company that develops and sells connected sound products and software for homes and other personal listening environments. Its products are designed to work together over wireless networks, allowing users to stream and control music, podcasts, television audio and other content through the Sonos app and compatible services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, home theater components, subwoofers and headphones.