Sonos (SONO) Scheduled to Post Quarterly Earnings on Tuesday

Sonos (NASDAQ:SONO - Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Sonos has set its FY 2024 guidance at EPS.Persons interested in registering for the company's earnings conference call can do so using this link.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.47 by $0.22. The company had revenue of $612.87 million during the quarter, compared to analyst estimates 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 expect Sonos to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sonos Trading Down 2.4 %

NASDAQ:SONO traded down $0.41 during trading hours on Tuesday, reaching $16.90. 1,340,176 shares of the company were exchanged, compared to its average volume of 1,936,453. The firm has a market cap of $2.09 billion, a PE ratio of -563.15 and a beta of 1.99. Sonos has a twelve month low of $9.78 and a twelve month high of $21.98. The stock's 50-day moving average is $18.32 and its 200-day moving average is $16.20.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SONO. Rosenblatt Securities restated a "buy" rating and set a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. Morgan Stanley increased their target price on Sonos from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. Finally, TheStreet raised Sonos from a "d+" rating to a "c-" rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Sonos currently has an average rating of "Moderate Buy" and an average target price of $21.00.

About Sonos

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.