Sonos (NASDAQ:SONO) has been given a $20.00 price target by equities researchers at DA Davidson in a research note issued on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 31.32% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on SONO. ValuEngine raised shares of Sonos from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Zacks Investment Research lowered Sonos from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Jefferies Financial Group raised their price objective on Sonos from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, September 4th. They noted that the move was a valuation call. Finally, 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 report on Monday, August 19th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $16.00.
Shares of SONO stock traded up $0.01 during mid-day trading on Monday, hitting $15.23. The company’s stock had a trading volume of 1,266,345 shares, compared to its average volume of 1,308,795. The company’s fifty day simple moving average is $12.47 and its 200-day simple moving average is $11.22. Sonos has a 52 week low of $9.23 and a 52 week high of $17.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 2.06. The company has a market cap of $1.57 billion and a PE ratio of -63.46.
Sonos (NASDAQ:SONO) last announced its quarterly earnings data 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. Sonos had a return on equity of 8.69% and a net margin of 1.86%. The company had revenue of $260.12 million for the quarter, compared to the consensus estimate of $245.54 million. During the same period in the previous year, the business earned ($0.45) EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that Sonos will post 0.01 earnings per share for the current year.
In other Sonos news, insider Nicholas Millington sold 8,107 shares of the firm’s stock in a transaction 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 SEC, which is available through the SEC website. 15.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SONO. Bank of America Corp DE lifted its holdings in shares of Sonos by 69.8% in the fourth quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock valued at $98,000 after purchasing an additional 4,113 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Sonos by 610.4% in the 1st 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. Raymond James Financial Services Advisors Inc. raised its position in Sonos by 614.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 109,941 shares of the company’s stock valued at $1,131,000 after buying an additional 94,556 shares during the last quarter. Raymond James & Associates raised its position in Sonos by 46.3% in the 1st quarter. Raymond James & Associates now owns 249,473 shares of the company’s stock valued at $2,567,000 after buying an additional 78,945 shares during the last quarter. Finally, Water Island Capital LLC bought a new position in Sonos during the 1st quarter valued at $93,000. 63.58% of the stock is owned by hedge funds and other 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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