Sonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is headquartered in Santa Barbara, California.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on SONO. Jefferies Financial Group dropped their price objective on shares of Sonos from $45.00 to $35.00 in a report on Tuesday, May 31st. DA Davidson dropped their price objective on shares of Sonos from $49.00 to $40.00 in a report on Thursday, May 12th. Morgan Stanley downgraded shares of Sonos from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $38.00 to $28.00 in a report on Tuesday, June 14th. Finally, TheStreet downgraded shares of Sonos from a "b-" rating to a "c" rating in a report on Wednesday, May 11th.
Sonos Trading Up 1.8 %
NASDAQ:SONO opened at $23.20 on Monday. Sonos has a 12 month low of $17.43 and a 12 month high of $42.57. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.33 and a beta of 1.91. The company's 50 day moving average is $20.44 and its two-hundred day moving average is $23.37.
Sonos (NASDAQ:SONO - Get Rating) last released its earnings results on Wednesday, May 11th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. Sonos had a net margin of 7.83% and a return on equity of 32.39%. The company had revenue of $399.78 million for the quarter, compared to analysts' expectations of $361.40 million. During the same quarter last year, the business earned $0.31 EPS. Sell-side analysts forecast that Sonos will post 1.09 EPS for the current year.
Insider Activity
In other news, insider Matthew O. Siegel sold 202,945 shares of Sonos stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the sale, the insider now owns 68,339 shares in the company, valued at $1,315,525.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Patrick Spence sold 65,237 shares of the business's stock in a transaction on Friday, July 15th. The shares were sold at an average price of $18.96, for a total value of $1,236,893.52. Following the sale, the chief executive officer now owns 727,690 shares in the company, valued at $13,797,002.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew O. Siegel sold 202,945 shares of the business's stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the completion of the sale, the insider now owns 68,339 shares in the company, valued at approximately $1,315,525.75. The disclosure for this sale can be found here. Insiders have sold a total of 270,897 shares of company stock worth $5,201,921 over the last quarter. Insiders own 3.60% of the company's stock.