Sonos, Inc. (NASDAQ:SONO) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts have a consensus rating of "Hold" on Sonos from five covering firms (1 sell, 2 hold, 2 buy), with an average 12‑month price target of $20.00.
• Major shareholder Coliseum Capital Management bought 494,719 shares at $15.50 on Feb. 4, raising its stake to 15,424,999 shares, while insiders purchased 3,140,482 shares in the last 90 days and institutional investors own 85.82% of the stock.

Sonos, Inc. (NASDAQ:SONO - Get Free Report) has received a consensus rating of "Hold" from the five research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

Several research analysts have recently weighed in on SONO shares. Rosenblatt Securities reiterated a "buy" rating and set a $21.00 price target on shares of Sonos in a research note on Monday, February 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sonos in a research note on Tuesday, April 21st. Jefferies Financial Group increased their price target on Sonos from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 5th. Morgan Stanley set a $18.00 target price on Sonos in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded Sonos from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L bought 494,719 shares of the business's stock in a transaction on Wednesday, February 4th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $7,668,144.50. Following the purchase, the insider directly owned 15,424,999 shares in the company, valued at $239,087,484.50. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 3,140,482 shares of company stock valued at $46,905,007. 1.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Sonos by 10.2% in the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company's stock worth $120,000 after purchasing an additional 631 shares during the period. Centaurus Financial Inc. boosted its stake in Sonos by 6.6% in the 3rd quarter. Centaurus Financial Inc. now owns 11,056 shares of the company's stock worth $175,000 after purchasing an additional 681 shares during the period. Arizona State Retirement System boosted its stake in Sonos by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 31,970 shares of the company's stock worth $505,000 after purchasing an additional 706 shares during the period. State of Wisconsin Investment Board boosted its stake in Sonos by 1.7% in the 4th quarter. State of Wisconsin Investment Board now owns 43,982 shares of the company's stock worth $772,000 after purchasing an additional 724 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Sonos by 0.7% in the 4th quarter. Intech Investment Management LLC now owns 117,718 shares of the company's stock worth $2,067,000 after purchasing an additional 776 shares during the period. Institutional investors own 85.82% of the company's stock.

Sonos Stock Performance

SONO stock opened at $14.75 on Monday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -86.79 and a beta of 1.99. Sonos has a fifty-two week low of $8.73 and a fifty-two week high of $19.82. The stock has a fifty day moving average of $14.14 and a 200-day moving average of $15.98.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.08. The company had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts predict that Sonos will post 0.58 EPS for the current year.

Sonos Company Profile

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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