Sonos (NASDAQ:SONO) Trading Down 3.2%

Sonos, Inc. (NASDAQ:SONO)’s share price traded down 3.2% during trading on Friday . The stock traded as low as $28.36 and last traded at $28.53. 12,921 shares were traded during mid-day trading, a decline of 99% from the average session volume of 2,383,896 shares. The stock had previously closed at $29.48.

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Sonos from $53.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, December 9th. Zacks Investment Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research report on Monday, October 18th. Finally, TheStreet lowered shares of Sonos from a “b-” rating to a “c+” rating in a research report on Tuesday, September 28th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $42.00.

The business’s 50-day moving average is $31.12 and its two-hundred day moving average is $33.69. The stock has a market capitalization of $3.50 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.87.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, November 16th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Sonos had a net margin of 9.24% and a return on equity of 41.99%. The firm had revenue of $359.54 million for the quarter, compared to analyst estimates of $360.23 million. During the same period last year, the firm posted $0.15 EPS. Sonos’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Sonos, Inc. will post 1.29 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in Sonos by 3.0% in the second quarter. Comerica Bank now owns 8,517 shares of the company’s stock valued at $312,000 after acquiring an additional 246 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Sonos by 3.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 8,300 shares of the company’s stock worth $269,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Company LLC raised its stake in shares of Sonos by 2.1% during the 3rd quarter. Ameritas Investment Company LLC now owns 16,606 shares of the company’s stock worth $537,000 after buying an additional 339 shares during the last quarter. Garde Capital Inc. raised its stake in shares of Sonos by 8.0% during the 3rd quarter. Garde Capital Inc. now owns 4,745 shares of the company’s stock worth $154,000 after buying an additional 350 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of Sonos by 3.5% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 11,996 shares of the company’s stock worth $388,000 after buying an additional 401 shares during the last quarter. 77.99% of the stock is owned by institutional investors.

About Sonos (NASDAQ:SONO)

Sonos, Inc engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.

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