Sonos, Inc. (NASDAQ:SONO) Stock Rated “Hold” by Wall Street Analysts

Shares of Sonos, Inc. (NASDAQ:SONO) have earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Sonos in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Sonos from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th.

Sonos Trading Down 0.9%

Sonos stock opened at $17.54 on Tuesday. Sonos has a 1-year low of $12.44 and a 1-year high of $19.82. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 38.98 and a beta of 1.88. The firm’s fifty day moving average price is $16.47 and its two-hundred day moving average price is $15.38.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.23. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The firm had revenue of $375.26 million during the quarter, compared to analyst estimates of $365.65 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Sonos will post 0.69 EPS for the current year.

Insider Transactions at Sonos

In related news, Director Karen Boone sold 46,766 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the sale, the director owned 69,271 shares of the company’s stock, valued at $1,255,883.23. The trade was a 40.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the sale, the director directly owned 53,775 shares in the company, valued at approximately $914,175. This represents a 26.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,621 shares of company stock valued at $1,339,303. 1.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Sonos

Large investors have recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of Sonos by 8.4% during the 1st quarter. First Trust Advisors LP now owns 14,859 shares of the company’s stock valued at $199,000 after purchasing an additional 1,155 shares during the last quarter. Fortitude Family Office LLC increased its position in Sonos by 325.3% in the third quarter. Fortitude Family Office LLC now owns 1,544 shares of the company’s stock worth $28,000 after buying an additional 1,181 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Sonos by 15.5% in the third quarter. GAMMA Investing LLC now owns 9,373 shares of the company’s stock worth $168,000 after buying an additional 1,258 shares during the period. Allworth Financial LP raised its stake in shares of Sonos by 13.9% in the second quarter. Allworth Financial LP now owns 12,630 shares of the company’s stock worth $171,000 after buying an additional 1,540 shares during the period. Finally, Leonteq Securities AG raised its stake in shares of Sonos by 45.2% in the first quarter. Leonteq Securities AG now owns 7,690 shares of the company’s stock worth $103,000 after buying an additional 2,395 shares during the period. Institutional investors own 85.82% of the company’s stock.

Sonos Company Profile

Sonos, Inc develops and sells connected audio products and software for the home. Its offerings are designed to work together over wireless networks, allowing users to play music and other audio in individual rooms or across multiple rooms through the Sonos app and compatible streaming services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, subwoofers and other home-theater components. Sonos also offers headphones, including the Sonos Ace, as well as software features such as voice control, multiroom audio management and integration with third-party music and media platforms.

Founded in 2002 and headquartered in Santa Barbara, California, Sonos sells its products through its website, company-operated stores and third-party retailers.