Sonos Inc (NASDAQ:SONO) was the recipient of a large increase in short interest in the month of September. As of September 14th, there was short interest totalling 5,761,711 shares, an increase of 61.3% from the August 31st total of 3,572,626 shares. Currently, 12.5% of the company’s stock are short sold. Based on an average daily volume of 3,439,377 shares, the short-interest ratio is presently 1.7 days.

A number of equities analysts recently weighed in on SONO shares. Morgan Stanley started coverage on shares of Sonos in a research note on Monday, August 27th. They issued an “equal weight” rating and a $20.00 target price for the company. Jefferies Financial Group started coverage on shares of Sonos in a research note on Monday, August 27th. They issued a “hold” rating and a $23.00 target price for the company. Raymond James started coverage on shares of Sonos in a research note on Monday, August 27th. They issued an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada started coverage on shares of Sonos in a research note on Monday, August 27th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Goldman Sachs Group started coverage on shares of Sonos in a research note on Monday, August 27th. They issued a “buy” rating and a $25.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $22.83.

Shares of NASDAQ SONO opened at $14.41 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 1.90. Sonos has a 1-year low of $13.13 and a 1-year high of $23.60.

Sonos (NASDAQ:SONO) last announced its earnings results on Monday, September 10th. The healthcare company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.23). The company had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $207.94 million. Sonos’s revenue for the quarter was down 6.6% compared to the same quarter last year. research analysts anticipate that Sonos will post -0.26 EPS for the current fiscal year.

About Sonos

Sonos, Inc, through its subsidiaries, designs, develops, manufactures, and sells multi-room audio products primarily for use in private residences in the United States and internationally. It offers wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores and e-commerce retailers, as well as through its sonos.com Website.

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