Sovos Brands (SOVO) Stock Forecast, Price & News

9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Sovos Brands in the last twelve months. There are currently 8 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" SOVO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SOVO, but not buy additional shares or sell existing shares.
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9 equities research analysts have issued 1 year target prices for Sovos Brands' shares. Their SOVO share price forecasts range from $16.00 to $24.00. On average, they expect the company's stock price to reach $22.17 in the next twelve months. This suggests that the stock has a possible downside of 1.7%.
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Sovos Brands' stock was trading at $14.37 at the beginning of the year. Since then, SOVO stock has increased by 56.9% and is now trading at $22.55.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
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Sovos Brands, Inc. (NASDAQ:SOVO) announced its quarterly earnings data on Wednesday, August, 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The company had revenue of $217.60 million for the quarter, compared to analysts' expectations of $213.87 million. Sovos Brands had a positive trailing twelve-month return on equity of 14.14% and a negative net margin of 1.49%. Sovos Brands's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share.

ETFs with the largest weight of Sovos Brands (NASDAQ:SOVO) stock in their portfolio include Invesco Dorsey Wright Consumer Staples Momentum ETF (PSL) and First Trust Small Cap Growth AlphaDEX Fund (FYC).First Trust Small Cap Core AlphaDEX Fund (FYX).

(SOVO) raised $350 million in an initial public offering on Thursday, September 23rd 2021. The company issued 23,334,000 shares at a price of $14.00-$16.00 per share.

Sovos Brands trades on the NASDAQ under the ticker symbol "SOVO."

Shares of SOVO 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 SOVO stock can currently be purchased for approximately $22.55.

Sovos Brands (NASDAQ:SOVO) has a market capitalization of $2.28 billion and generates $878.37 million in revenue each year. The company earns $-53,450,000.00 in net income (profit) each year or ($0.14) on an earnings per share basis.

The company employs 690 workers across the globe.

Sovos Brands' mailing address is 168 CENTENNIAL PARKWAY SUITE 200, LOUISVILLE CO, 80027. The official website for the company is www.sovosbrands.com. The company can be reached via phone at 720-316-1225 or via email at ir@sovosbrands.com.