Sonos, Inc. (NASDAQ:SONO) Given Average Rating of “Hold” by Analysts

Shares of Sonos, Inc. (NASDAQ:SONO) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.00.

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

Hedge Funds Weigh In On Sonos

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Sonos by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock worth $244,704,000 after buying an additional 204,934 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Sonos by 2.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after buying an additional 90,997 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Sonos by 2.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock worth $57,630,000 after buying an additional 85,468 shares in the last quarter. Geode Capital Management LLC raised its stake in Sonos by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock worth $51,082,000 after buying an additional 20,602 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Sonos by 27.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after buying an additional 506,566 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

Sonos Trading Down 2.5%

Sonos stock opened at $14.32 on Tuesday. The firm has a 50-day moving average of $14.89 and a 200-day moving average of $15.45. The firm has a market cap of $1.71 billion, a P/E ratio of 84.24 and a beta of 1.94. Sonos has a 1-year low of $9.65 and a 1-year high of $19.82.

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.