Sonos (NASDAQ:SONO – Get Rating) issued its earnings results on Wednesday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02, MarketWatch Earnings reports. Sonos had a return on equity of 39.60% and a net margin of 8.63%. During the same period in the prior year, the firm posted $0.31 earnings per share. Sonos updated its FY 2022 guidance to EPS.
Shares of SONO traded up $2.71 during mid-day trading on Thursday, reaching $21.72. 8,963,201 shares of the stock traded hands, compared to its average volume of 3,139,603. The firm has a fifty day moving average price of $25.27 and a 200 day moving average price of $27.99. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Sonos has a 1 year low of $18.92 and a 1 year high of $42.57.
Several brokerages recently weighed in on SONO. Jefferies Financial Group dropped their price target on shares of Sonos from $50.00 to $45.00 in a research report on Monday. TheStreet raised shares of Sonos from a “c+” rating to a “b-” rating in a research report on Wednesday, February 9th. Morgan Stanley dropped their price target on shares of Sonos from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. DA Davidson dropped their price target on shares of Sonos from $49.00 to $40.00 in a research report on Thursday. Finally, Stifel Nicolaus dropped their target price on shares of Sonos from $40.00 to $34.00 in a research report on Thursday, February 10th.
Several hedge funds and other institutional investors have recently made changes to their positions in SONO. BlackRock Inc. grew its holdings in Sonos by 77.4% in the first quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock worth $631,123,000 after purchasing an additional 9,759,359 shares during the period. State Street Corp grew its holdings in shares of Sonos by 1.9% during the fourth quarter. State Street Corp now owns 2,364,248 shares of the company’s stock valued at $70,455,000 after buying an additional 45,135 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sonos by 12.6% during the third quarter. Bank of New York Mellon Corp now owns 512,536 shares of the company’s stock valued at $16,585,000 after buying an additional 57,369 shares during the last quarter. Barclays PLC grew its holdings in shares of Sonos by 129.3% during the fourth quarter. Barclays PLC now owns 364,873 shares of the company’s stock valued at $10,873,000 after buying an additional 205,778 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sonos by 162.6% during the first quarter. Rhumbline Advisers now owns 325,035 shares of the company’s stock valued at $9,172,000 after buying an additional 201,273 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.
Sonos Company Profile (Get Rating)
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its Website sonos.com.
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