Sonos (SONO) Stock Price Up 7.5%

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Sonos Inc (NASDAQ:SONO) rose 7.5% on Thursday . The stock traded as high as $13.79 and last traded at $13.66. Approximately 832,986 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,906,074 shares. The stock had previously closed at $12.71.

SONO has been the topic of several analyst reports. Goldman Sachs Group initiated coverage on Sonos in a research report on Monday, August 27th. They issued a “buy” rating and a $25.00 target price on the stock. Stifel Nicolaus initiated coverage on Sonos in a research report on Monday, August 27th. They issued a “hold” rating and a $20.00 target price on the stock. Raymond James initiated coverage on Sonos in a research report on Monday, August 27th. They issued an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada initiated coverage on Sonos in a research report on Monday, August 27th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Morgan Stanley initiated coverage on Sonos in a research report on Monday, August 27th. They issued an “equal weight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.57.

The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.95 and a current ratio of 1.52.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Monday, September 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The firm had revenue of $208.40 million during the quarter, compared to the consensus estimate of $207.94 million. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts expect that Sonos Inc will post -0.26 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Columbia Asset Management acquired a new position in shares of Sonos during the third quarter valued at $117,000. CenterStar Asset Management LLC acquired a new position in shares of Sonos during the third quarter valued at $117,000. Penserra Capital Management LLC acquired a new position in shares of Sonos during the third quarter valued at $358,000. Aperimus Capital LLC acquired a new position in shares of Sonos during the third quarter valued at $1,594,000. Finally, Seven Eight Capital LP acquired a new position in shares of Sonos during the third quarter valued at $1,920,000. 0.28% of the stock is currently owned by institutional investors.

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About Sonos (NASDAQ:SONO)

Sonos, Inc, through its subsidiaries, designs, develops, manufactures, and sells multi-room audio products primarily for use in private residences in the United States and internationally. It offers wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores and e-commerce retailers, as well as through its sonos.com Website.

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