Sonos (NASDAQ:SONO) received a $20.00 price objective from DA Davidson in a research note issued to investors on Monday, TipRanks reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 31.32% from the company’s current price.
Several other research analysts have also commented on SONO. Jefferies Financial Group boosted their price objective on Sonos from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, September 4th. They noted that the move was a valuation call. ValuEngine upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Raymond James raised shares of Sonos from an “outperform” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Monday, August 19th. Finally, Zacks Investment Research lowered shares of Sonos from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $16.00.
Shares of SONO stock traded up $0.01 during trading hours on Monday, reaching $15.23. The stock had a trading volume of 1,266,345 shares, compared to its average volume of 1,308,795. The stock’s fifty day simple moving average is $12.47 and its 200 day simple moving average is $11.22. The company has a current ratio of 2.06, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. Sonos has a 12 month low of $9.23 and a 12 month high of $17.77. The firm has a market capitalization of $1.57 billion and a PE ratio of -63.46.
In related news, insider Nicholas Millington sold 8,107 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $11.47, for a total value of $92,987.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SONO. Tower Research Capital LLC TRC boosted its holdings in shares of Sonos by 673.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,345 shares of the company’s stock worth $27,000 after purchasing an additional 2,042 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Sonos during the 2nd quarter valued at about $32,000. BNP Paribas Arbitrage SA raised its holdings in shares of Sonos by 610.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,836 shares of the company’s stock valued at $39,000 after buying an additional 3,296 shares in the last quarter. Water Island Capital LLC purchased a new position in shares of Sonos during the 1st quarter valued at about $93,000. Finally, Bank of America Corp DE raised its holdings in shares of Sonos by 69.8% during the 4th quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock valued at $98,000 after buying an additional 4,113 shares in the last quarter. Institutional investors and hedge funds own 63.58% of the company’s stock.
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.
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