Sonos Inc (NASDAQ:SONO) has been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.33.

SONO has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Sonos from $20.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, February 7th. DA Davidson started coverage on Sonos in a report on Monday, April 1st. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research raised Sonos from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, April 10th. Finally, ValuEngine downgraded Sonos from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

NASDAQ SONO traded down $0.15 during trading on Wednesday, hitting $10.00. The company’s stock had a trading volume of 28,678 shares, compared to its average volume of 984,957. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.02 and a current ratio of 2.58. The company has a market cap of $1.07 billion and a PE ratio of -42.08. Sonos has a fifty-two week low of $9.23 and a fifty-two week high of $23.60.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. The business had revenue of $210.20 million during the quarter, compared to the consensus estimate of $213.42 million. Sonos had a return on equity of 6.88% and a net margin of 0.85%. The business’s quarterly revenue was up 12.6% on a year-over-year basis.

In related news, insider Nicholas Millington sold 25,000 shares of Sonos stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $11.95, for a total transaction of $298,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michelangelo Volpi sold 517,992 shares of Sonos stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $10.51, for a total value of $5,444,095.92. The disclosure for this sale can be found here. Insiders have sold 812,031 shares of company stock valued at $8,445,999 in the last ninety days. Corporate insiders own 15.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SONO. Bank of New York Mellon Corp purchased a new position in shares of Sonos in the third quarter worth about $646,000. JPMorgan Chase & Co. bought a new position in Sonos in the 3rd quarter worth about $6,373,000. Teachers Advisors LLC bought a new position in Sonos in the 3rd quarter worth about $335,000. TIAA CREF Investment Management LLC bought a new position in Sonos in the 3rd quarter worth about $357,000. Finally, Legal & General Group Plc bought a new position in Sonos in the 3rd quarter worth about $713,000. Institutional investors own 59.96% of the company’s stock.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

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Analyst Recommendations for Sonos (NASDAQ:SONO)

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