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

Shares of Sonos, Inc. (NASDAQ:SONO) have received a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of Sonos in a research note on Monday, June 15th.

Sonos Trading Up 3.4%

Shares of SONO stock opened at $14.27 on Friday. Sonos has a 12 month low of $10.11 and a 12 month high of $19.82. The company has a market capitalization of $1.70 billion, a P/E ratio of 83.95 and a beta of 1.96. The stock has a 50 day moving average of $14.76 and a two-hundred day moving average of $14.89.

Hedge Funds Weigh In On Sonos

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Sonos by 307.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after acquiring an additional 1,330 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Sonos by 699.6% during the 4th 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. bought a new position in Sonos during the 4th quarter valued at about $50,000. Quarry LP boosted its position in 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 buying an additional 2,696 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Sonos in the fourth quarter valued at about $64,000. Institutional investors own 85.82% of the company’s stock.

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.