Analysts Set Sonos, Inc. (NASDAQ:SONO) PT at $21.00

Shares of Sonos, Inc. (NASDAQ:SONO) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.00.

A number of brokerages recently commented on SONO. Rosenblatt Securities reissued a “buy” rating and set a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th.

Insider Transactions at Sonos

In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas Conrad sold 5,337 shares of Sonos stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the sale, the director now owns 37,334 shares in the company, valued at approximately $683,585.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the transaction, the insider now owns 119,179 shares in the company, valued at $2,099,933.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,147 shares of company stock worth $484,972. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SONO. Daiwa Securities Group Inc. purchased a new stake in shares of Sonos in the 1st quarter worth $442,000. Quent Capital LLC purchased a new stake in Sonos in the first quarter worth about $95,000. K.J. Harrison & Partners Inc bought a new position in Sonos during the 1st quarter worth about $381,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Sonos during the 1st quarter valued at about $492,000. Finally, Diversified Trust Co bought a new stake in shares of Sonos in the 1st quarter valued at about $718,000. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 0.6 %

NASDAQ SONO opened at $17.05 on Tuesday. Sonos has a 12 month low of $9.78 and a 12 month high of $21.98. The stock has a market cap of $2.11 billion, a PE ratio of -568.14 and a beta of 2.00. The stock’s 50 day moving average is $18.23 and its 200 day moving average is $16.28.

Sonos (NASDAQ:SONO) last posted its earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.22. The company had revenue of $612.87 million during the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. On average, analysts forecast that Sonos will post 0.31 EPS for the current fiscal year.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.