Sonos Inc (NASDAQ:SONO) does about 2.18M shares in volume on a normal day but saw 1326740 shares change hands in Tuesday trading. The company now has a market cap of 2.32B USD. Its current market price is $18.75, marking a decrease of -0.21% compared to the previous close of $18.79. The 52 week high reached by this stock is $21.98 whilst the lowest price level in 52 weeks is $9.78.
Sonos Inc (SONO) has a 20-day trading average at $18.86 and the current price is -14.70% off the 52-week high compared with 91.72% distance from its 52-week low. The 50-day simple moving average of the closing price is $18.17 and its 200-day simple moving average is $15.39. If we look at the stock’s price movements over the week, volatility stands at 2.35%, which increases to 2.79% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 50.68 to suggest the stock is neutral.
The consensus objective for the share price is $23.60, suggesting that the stock has a potential upside of 20.55% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 12, 2023 when Morgan Stanley upgraded the stock to “Overweight” and issued a price target of between $17 and $20. BofA Securities downgraded the stock to “Neutral” from Buy on November 07, 2023 at a price target of $20-$12. Rosenblatt initiated its price target at $20.
Sonos Inc (SONO) stock is down -0.74% over the week and -2.50% over the past month. Its price is 9.39% year-to-date and -1.52% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $0.64 above consensus estimates by $0.25. SONO’s earnings per share are forecast to grow by 412.50% this year and 68.00% over next year. Expected sales for next quarter are $416.94 million, which analysts say will come at $1.65 billion for the current fiscal year and next year at $1.78 billion. In addition, estimates put the company’s current quarterly revenue at an average of $247.41 million.
To reach the target analysts have set, the stock logically needs to grow 20.55 percent from here.
Outstanding shares total 125.11M with insiders holding 1.82% of the shares and institutional holders owning 89.78% of the company’s common stock. The company has a return on investment of -0.69% and return on equity of -0.74%. The forward price to earnings ratio is 36.56. The beta has a value of 1.99. Price to book ratio is 4.01 and price to sales ratio is 1.46.
