The stock of Sonos Inc. (NASDAQ:SONO) increased by $0.49 on Tuesday to finish at $14.48, up 3.50 percent. The last five days have seen an average of 4,429,220 shares of common stock traded. 15 times new highs were reached in the current year, with a fall of -$2.42. The average number of shares traded over the last 20 days was 2,181,635, while the average volume over the last 50 days totaled 1,981,156.
SONO stock dropped -16.20% since last month. On 08/14/23, the company’s shares reached a one-month low of $13.69. The stock touched a high of $21.98 on 05/10/23, after rallying from a low of $13.65 in 52 weeks. The price of SONO stock has declined by -14.32% or -$2.42 this year, reaching a new high 15 times. Still, the stock price is down -34.12% from the 52-week high.
Insider Transactions
SONO stock investors should be aware that Sonos Inc. (SONO) stock had its last reported insider trading activity 13 days ago on Aug 03. On Aug 03, Director Coles Joanna sold 905 shares at $16.56 each. This transaction resulted in the insider making $14,987. On Jul 03, Coles Joanna sold 905 shares at a price of US$16.42. After the transaction, the insider now owns 21,153 shares. Director Coles Joanna had earlier sold 905 shares on Jun 05 for $15.00 a share. The transaction was completed for $13,575.
Valuation Metrics
Beta for the stock is 1.89. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.16, the price-to-book (PB) ratio of 3.02.
Financial Health
For the three months ended June 29, Sonos Inc.’s quick ratio was 1.20, while its current ratio was 2.10, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 43.00% percent. Sonos Inc.’s EBITDA margin for the year ended June 29 was 8.61%, whereas its operating margin stood at 2.60% for the same period. Based on annual data, it had gross profit of $796.37 million and revenue of $1.75 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SONO’s return on assets (ROA) during the last 12 months has been 1.60%. There was a 15.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 3.10%.
Earnings Surprise
According to Sonos Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $372.76 million, while revenues rose by 0.26% to $304.17 million. It was predicted that Sonos Inc.’s quarterly earnings would be -$0.18, but it ended up being -$0.2. EBITDA was -$9.05 million for the quarter. At the end of Sonos Inc.’s most recent quarter ended June 29, its liabilities totaled 475.01 million, while its total debt was $58.35 million. Equity owned by shareholders amounts to $128.26 million.
Technical Picture
Here’s a quick look at Sonos Inc.’s (SONO) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 28.94%, suggesting the stock is oversold, with a 38.98% historical volatility rate.
The stochastic %K and %D were 10.58% and 7.48% respectively, while the average true range (ATR) was 0.70. Based on the 14-day stochastic reading of 20.63%, the RSI (14) reading is 32.94%. On the 9-day MACD Oscillator, the stock is at -1.11, and the 14-day reading is at -1.73.
Analyst Ratings
Sonos Inc. (NASDAQ: SONO) was downgraded by Morgan Stanley to a an Equal-weight rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Sonos Inc. (SONO) an Overweight rating. SONO is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is SONO’s price target for the next 12 months?
The current consensus forecast for the stock is between $19.00 and $24.00, with a median target price of $20.00. In analyzing these forecasts, the average price target given by analysts for Sonos Inc. (SONO) is $20.80.
