Sonos, Inc. (NASDAQ:SONO) Receives Average Recommendation of “Hold” from Analysts

Sonos, Inc. (NASDAQ:SONO) has earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given 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 research analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Sonos in a research note on Monday. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research lowered shares of Sonos from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th.

Sonos Trading Down 3.0%

Sonos stock opened at $14.90 on Tuesday. The stock has a market cap of $1.78 billion, a P/E ratio of 87.65 and a beta of 1.94. The company has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $15.60. Sonos has a 12-month low of $9.65 and a 12-month high of $19.82.

Institutional Trading of Sonos

Large investors have recently modified their holdings of the business. Hantz Financial Services Inc. grew 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 purchasing an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock valued at $36,000 after purchasing an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sonos in the fourth quarter valued at approximately $50,000. Quarry LP grew its position in shares of Sonos by 485.8% in the third quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Sonos in the fourth quarter valued at approximately $64,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Company Profile

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.