Sonos Inc (SONO) Given Average Rating of “Buy” by Brokerages
Shares of Sonos Inc (NASDAQ:SONO) have earned a consensus rating of “Buy” from the six research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.83.
A number of analysts have commented on SONO shares. Jefferies Financial Group started coverage on shares of Sonos in a research note on Monday, August 27th. They set a “hold” rating and a $23.00 price objective for the company. Morgan Stanley started coverage on Sonos in a research report on Monday, August 27th. They issued an “equal weight” rating and a $20.00 price objective for the company. Royal Bank of Canada started coverage on Sonos in a research report on Monday, August 27th. They issued an “outperform” rating and a $25.00 price objective for the company. Raymond James started coverage on Sonos in a research report on Monday, August 27th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Sonos in a research report on Monday, August 27th. They issued a “hold” rating and a $20.00 price objective for the company.
NASDAQ SONO traded down $0.53 on Tuesday, reaching $12.15. The company’s stock had a trading volume of 735,486 shares, compared to its average volume of 1,273,069. Sonos has a twelve month low of $11.80 and a twelve month high of $23.60. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.95.
A hedge fund recently bought a new stake in Sonos stock. CenterStar Asset Management LLC bought a new stake in shares of Sonos Inc (NASDAQ:SONO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,138 shares of the healthcare company’s stock, valued at approximately $117,000.
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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