Sonos, Inc. (NASDAQ:SONO) Given Average Recommendation of "Hold" by Brokerages

Sonos, Inc. (NASDAQ:SONO - Get Free Report) has been assigned an average recommendation of "Hold" from the five research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.00.

Several brokerages have issued reports on SONO. Weiss Ratings upgraded shares of Sonos from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Sonos from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $21.00 price objective on shares of Sonos in a research note on Thursday, July 30th.

Insider Activity

In other Sonos news, Director Julius Genachowski sold 19,855 shares of Sonos stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the transaction, the director directly owned 53,775 shares of the company's stock, valued at approximately $914,175. The trade was a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by insiders.

Institutional Trading of Sonos

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Sonos during the 2nd quarter worth about $248,067,000. Vanguard Group Inc. lifted its holdings in shares of Sonos by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company's stock valued at $244,704,000 after buying an additional 204,934 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Sonos by 2.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company's stock worth $44,319,000 after buying an additional 90,997 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Sonos by 2.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company's stock worth $57,630,000 after acquiring an additional 85,468 shares during the period. Finally, Geode Capital Management LLC raised its position in Sonos by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company's stock valued at $51,082,000 after acquiring an additional 20,602 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Sonos Stock Performance

Sonos stock opened at $15.30 on Monday. Sonos has a 12-month low of $12.44 and a 12-month high of $19.82. The firm has a 50-day moving average price of $14.97 and a 200-day moving average price of $14.76. The firm has a market capitalization of $1.81 billion, a PE ratio of 34.00 and a beta of 1.95.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The firm had revenue of $375.26 million during the quarter, compared to analyst estimates of $365.65 million. During the same period last year, the company earned ($0.03) EPS. Sonos's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Sonos will post 0.69 earnings per share for the current fiscal year.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company's core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.

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