Sonos Inc (SONO) Receives Consensus Recommendation of “Buy” from Analysts

Sonos Inc (NASDAQ:SONO) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.83.

A number of brokerages recently weighed in on SONO. Raymond James began coverage on shares of Sonos in a report on Monday, August 27th. They issued an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus started coverage on shares of Sonos in a report on Monday, August 27th. They issued a “hold” rating and a $20.00 price objective for the company. Royal Bank of Canada started coverage on shares of Sonos in a report on Monday, August 27th. They set an “outperform” rating and a $25.00 price target for the company. Goldman Sachs Group started coverage on shares of Sonos in a report on Monday, August 27th. They set a “buy” rating and a $25.00 price target for the company. Finally, Morgan Stanley started coverage on shares of Sonos in a report on Monday, August 27th. They set an “equal weight” rating and a $20.00 price target for the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of SONO. CenterStar Asset Management LLC acquired a new position in Sonos during the 3rd quarter worth approximately $117,000. Columbia Asset Management acquired a new position in Sonos during the 3rd quarter worth approximately $117,000. American International Group Inc. acquired a new position in Sonos during the 3rd quarter worth approximately $171,000. Rhumbline Advisers acquired a new position in Sonos during the 3rd quarter worth approximately $204,000. Finally, Penserra Capital Management LLC acquired a new position in Sonos during the 3rd quarter worth approximately $358,000. Institutional investors own 0.28% of the company’s stock.

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

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Monday, September 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates 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 revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts predict that Sonos will post -0.26 EPS for the current 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.

See Also: Outstanding Shares

Analyst Recommendations for Sonos (NASDAQ:SONO)

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