Sonos, Inc. (NASDAQ:SONO) Receives $20.00 Consensus Price Target from Analysts

Shares of Sonos, Inc. (NASDAQ:SONO) have been given an average rating of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.00.

A number of equities analysts have commented on SONO shares. Zacks Research cut Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen lowered Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research note on Monday, June 15th.

Institutional Investors Weigh In On Sonos

A number of large investors have recently modified their holdings of SONO. Hantz Financial Services Inc. raised its position in shares of Sonos by 307.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after buying an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Sonos by 699.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Sonos during the 4th quarter valued at about $50,000. Quarry LP grew its stake in Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after acquiring an additional 2,696 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Sonos during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 5.9%

Shares of Sonos stock opened at $15.11 on Friday. Sonos has a twelve month low of $10.11 and a twelve month high of $19.82. The firm has a market capitalization of $1.80 billion, a PE ratio of 88.89 and a beta of 1.96. The firm’s 50-day moving average price is $14.76 and its 200 day moving average price is $14.89.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.