Sonos, Inc. (NASDAQ:SONO – Get Rating) – Research analysts at Jefferies Financial Group decreased their Q2 2023 earnings per share (EPS) estimates for shares of Sonos in a note issued to investors on Thursday, February 9th. Jefferies Financial Group analyst B. Thill now anticipates that the company will earn ($0.03) per share for the quarter, down from their previous forecast of ($0.02). The consensus estimate for Sonos’ current full-year earnings is $0.19 per share. Jefferies Financial Group also issued estimates for Sonos’ Q3 2023 earnings at ($0.11) EPS, Q4 2023 earnings at ($0.12) EPS and FY2023 earnings at $0.29 EPS.
SONO has been the subject of a number of other reports. DA Davidson lowered their price target on Sonos to $26.00 in a report on Thursday, December 1st. Morgan Stanley increased their price target on Sonos from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday.
Sonos Trading Down 3.4 %
NASDAQ SONO opened at $20.09 on Monday. The stock has a market cap of $2.56 billion, a PE ratio of 154.55, a P/E/G ratio of 11.10 and a beta of 1.88. Sonos has a twelve month low of $13.65 and a twelve month high of $31.22. The stock has a fifty day simple moving average of $17.89 and a 200-day simple moving average of $16.96.
Sonos (NASDAQ:SONO – Get Rating) last released its quarterly earnings results on Wednesday, November 16th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The business had revenue of $316.29 million for the quarter, compared to analysts’ expectations of $302.51 million. Sonos had a return on equity of 3.04% and a net margin of 1.08%.
Insider Activity at Sonos
In related news, insider Nicholas Millington sold 41,898 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $20.13, for a total transaction of $843,406.74. Following the completion of the transaction, the insider now directly owns 294,583 shares in the company, valued at approximately $5,929,955.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sonos news, Director Joanna Coles sold 5,430 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $20.55, for a total value of $111,586.50. Following the sale, the director now owns 15,667 shares of the company’s stock, valued at approximately $321,956.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Millington sold 41,898 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $20.13, for a total value of $843,406.74. Following the completion of the sale, the insider now directly owns 294,583 shares in the company, valued at approximately $5,929,955.79. The disclosure for this sale can be found here. 3.13% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sonos
A number of hedge funds have recently bought and sold shares of SONO. Public Employees Retirement System of Ohio raised its position in Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after purchasing an additional 777 shares in the last quarter. First Manhattan Co. acquired a new stake in Sonos in the 1st quarter valued at about $36,000. Performa Ltd US LLC raised its position in Sonos by 100.0% in the 3rd quarter. Performa Ltd US LLC now owns 2,700 shares of the company’s stock valued at $38,000 after purchasing an additional 1,350 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Sonos by 2,622.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,232 shares of the company’s stock valued at $38,000 after purchasing an additional 2,150 shares in the last quarter. Finally, Sit Investment Associates Inc. acquired a new stake in Sonos in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 85.64% of the company’s stock.
Sonos Company Profile
Sonos, Inc engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.
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