Shares of Sonos Inc (NASDAQ:SONO) gapped up prior to trading on Tuesday . The stock had previously closed at $14.69, but opened at $13.50. Sonos shares last traded at $13.81, with a volume of 1,551,894 shares.
A number of equities analysts recently issued reports on the stock. Raymond James raised shares of Sonos from an “outperform” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Monday. Zacks Investment Research downgraded shares of Sonos from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, ValuEngine raised shares of Sonos from a “hold” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.13.
The firm has a market cap of $1.44 billion and a PE ratio of -58.17. The company has a quick ratio of 1.62, a current ratio of 2.06 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $10.94.
Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the Zacks’ 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 was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share.
In other Sonos news, insider Nicholas Millington sold 8,107 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.47, for a total value of $92,987.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of Sonos by 673.9% during the second 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 last quarter. Quantamental Technologies LLC purchased a new stake in shares of Sonos during the second quarter valued at approximately $32,000. BNP Paribas Arbitrage SA grew its holdings in shares of Sonos by 610.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,836 shares of the company’s stock valued at $39,000 after buying an additional 3,296 shares during the last quarter. Water Island Capital LLC purchased a new stake in shares of Sonos during the first quarter valued at approximately $93,000. Finally, Bank of America Corp DE grew its holdings in shares of Sonos by 69.8% during 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 last quarter. Institutional investors and hedge funds own 60.25% of the company’s stock.
About Sonos (NASDAQ:SONO)
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.
Featured Article: Strike Price
Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.