Analysts Set Sonos, Inc. (NASDAQ:SONO) Price Target at $21.00

Shares of Sonos, Inc. (NASDAQ:SONO) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $21.00.

Several brokerages recently issued reports on SONO. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 target price on shares of Sonos in a research note on Monday, March 25th. Finally, Morgan Stanley increased their target price on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th.

Sonos Stock Performance

NASDAQ:SONO opened at $16.94 on Tuesday. The firm’s fifty day moving average is $18.26 and its 200-day moving average is $16.21. Sonos has a 52 week low of $9.78 and a 52 week high of $21.98. The firm has a market cap of $2.10 billion, a P/E ratio of -564.48 and a beta of 2.00.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.22. The company had revenue of $612.87 million for the quarter, compared to analyst estimates of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. As a group, sell-side analysts anticipate that Sonos will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Sonos

In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the transaction, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the transaction, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Conrad sold 5,337 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,147 shares of company stock valued at $484,972. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Sonos

Several institutional investors and hedge funds have recently made changes to their positions in SONO. GAMMA Investing LLC purchased a new stake in shares of Sonos in the fourth quarter valued at about $35,000. Quent Capital LLC purchased a new stake in shares of Sonos in the first quarter valued at about $95,000. Centaurus Financial Inc. purchased a new stake in shares of Sonos in the fourth quarter valued at about $112,000. Ieq Capital LLC purchased a new stake in shares of Sonos in the third quarter valued at about $132,000. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Sonos by 16.5% in the third quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock valued at $160,000 after purchasing an additional 1,755 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.