Sonos Inc (SONO) Given Average Recommendation of “Buy” by Brokerages

Sonos Inc (NASDAQ:SONO) has been given a consensus rating of “Buy” by the six research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.83.

A number of brokerages have commented on SONO. Stifel Nicolaus began coverage on shares of Sonos in a research report on Monday, August 27th. They set a “hold” rating and a $20.00 price objective for the company. Goldman Sachs Group began coverage on shares of Sonos in a research report on Monday, August 27th. They set a “buy” rating and a $25.00 price objective for the company. Royal Bank of Canada began coverage on shares of Sonos in a research report on Monday, August 27th. They set an “outperform” rating and a $25.00 price objective for the company. Raymond James began coverage on shares of Sonos in a research report on Monday, August 27th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of Sonos in a research report on Monday, August 27th. They set a “hold” rating and a $23.00 price objective for the company.

SONO stock opened at $14.31 on Friday. Sonos has a 12 month low of $11.78 and a 12 month high of $23.60. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.95 and a current ratio of 1.52.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Monday, September 10th. The company reported ($0.45) EPS for the quarter, missing the 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. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. On average, research analysts anticipate that Sonos will post -0.26 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Columbia Asset Management purchased a new position in Sonos during the 3rd quarter worth $117,000. CenterStar Asset Management LLC purchased a new position in Sonos during the 3rd quarter worth $117,000. American International Group Inc. purchased a new position in Sonos during the 3rd quarter worth $171,000. Rhumbline Advisers purchased a new position in Sonos during the 3rd quarter worth $204,000. Finally, Penserra Capital Management LLC purchased a new position in Sonos during the 3rd quarter worth $358,000. Institutional investors own 0.28% of the company’s stock.

Sonos Company Profile

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.

See Also: Book Value Of Equity Per Share – BVPS Explained

Analyst Recommendations for Sonos (NASDAQ:SONO)

Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply