Sonos (SONO) Stock Forecast, Price & News

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Sonos in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" SONO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SONO, but not buy additional shares or sell existing shares.
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2 brokers have issued 1-year price targets for Sonos' stock. Their SONO share price forecasts range from $20.00 to $24.00. On average, they anticipate the company's stock price to reach $21.33 in the next year. This suggests a possible upside of 49.1% from the stock's current price.
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Sonos' stock was trading at $16.90 at the start of the year. Since then, SONO shares have decreased by 15.3% and is now trading at $14.31.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 9th 2023.
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Sonos, Inc. (NASDAQ:SONO) posted its quarterly earnings results on Tuesday, November, 16th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. The company earned $359.54 million during the quarter, compared to the consensus estimate of $360.23 million. Sonos had a negative net margin of 1.21% and a negative trailing twelve-month return on equity of 3.29%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS.

ETFs with the largest weight of Sonos (NASDAQ:SONO) stock in their portfolio include Invesco S&P SmallCap Consumer Discretionary ETF (PSCD), Invesco S&P SmallCap Quality ETF (XSHQ), iShares S&P Small-Cap 600 Value ETF (IJS), SPDR S&P 600 Small CapValue ETF (SLYV), Invesco Nasdaq Future Gen 200 ETF (QQQS), Vanguard S&P Small-Cap 600 Value ETF (VIOV), Xtrackers S&P SmallCap 600 ESG ETF (SMLE) and SPDR S&P SmallCap 600 ESG ETF (ESIX).

Sonos issued an update on its FY 2023 earnings guidance on Friday, May, 12th. The company provided EPS guidance of for the period. The company issued revenue guidance of $1.63 billion-$1.68 billion, compared to the consensus revenue estimate of $1.73 billion.

79 employees have rated Sonos Chief Executive Officer Patrick Spence on Glassdoor.com. Patrick Spence has an approval rating of 98% among the company's employees. This puts Patrick Spence in the top 20% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Sonos investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Tesla (TSLA), Boeing (BA), DocuSign (DOCU), Block (SQ), Alibaba Group (BABA), PayPal (PYPL), QUALCOMM (QCOM) and Micron Technology (MU).

(SONO) raised $250 million in an IPO on Thursday, August 2nd 2018. The company issued 13,900,000 shares at $17.00-$19.00 per share. Morgan Stanley, Goldman Sachs and Allen & Company served as the underwriters for the IPO and RBC Capital Markets, Jefferies, KKR, Raymond James and Stifel were co-managers.

Sonos trades on the NASDAQ under the ticker symbol "SONO."

Sonos' stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (15.77%), Thrivent Financial for Lutherans (4.38%), Trigran Investments Inc. (4.24%), State Street Corp (3.72%), Franklin Resources Inc. (3.67%) and Geode Capital Management LLC (1.94%). Insiders that own company stock include 2006 Fund LP Kkr, Anna Fraser, Brittany Bagley, Edward P Lazarus, Joanna Coles, John Maeda, Julius Genachowski, Matthew O Siegel, Matthew O Siegel, Maxime Bouvat-Merlin, Michelangelo Volpi, Nicholas Millington, Patrick Spence and Thomas Conrad.
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Shares of SONO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SONO stock can currently be purchased for approximately $14.31.

Sonos (NASDAQ:SONO) has a market capitalization of $1.84 billion and generates $1.75 billion in revenue each year. The company earns $67.38 million in net income (profit) each year or ($0.17) on an earnings per share basis.

The company employs 1,844 workers across the globe.

Sonos' mailing address is 614 CHAPALA STREET, SANTA BARBARA CA, 93101. The official website for the company is www.sonos.com. The company can be reached via phone at (805) 965-3001 or via email at ir@sonos.com.