Sonos Inc. [SONO] Stock trading around $33.28 per share: What’s Next?

Sonos Inc. [NASDAQ: SONO] price plunged by -2.58 percent to reach at -$0.88. The company report on June 8, 2021 that Brian Eno Premieres Three Hundred Tracks on The Lighthouse, a New Station on Sonos Radio HD.

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The Lighthouse joins a growing programming line-up on Sonos Radio HD, now expanding to Austria, Canada, France, Germany and The Netherlands.

Sonos (Nasdaq: SONO) debuts an exclusive new Sonos Radio HD station from Brian Eno called The Lighthouse, launching alongside the expanded availability of Sonos Radio HD into Austria, Canada, France, Germany and The Netherlands. Since its launch in April 2020, Sonos Radio has continued to evolve and expand its programming with artists at the creative helm, offering unparalleled experiences for artists and music fans to connect through human-curated content and music discovery.

A sum of 2488773 shares traded at recent session while its average daily volume was at 2.15M shares. Sonos Inc. shares reached a high of $34.08 and dropped to a low of $32.66 until finishing in the latest session at $33.28.

The one-year SONO stock forecast points to a potential upside of 23.62. The average equity rating for SONO stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Sonos Inc. [SONO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SONO shares is $43.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SONO stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Sonos Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 12, 2021. The new note on the price target was released on October 15, 2020, representing the official price target for Sonos Inc. stock. On April 17, 2020, analysts decreased their price target for SONO shares from 20 to 7.50.

The Average True Range (ATR) for Sonos Inc. is set at 1.17, with the Price to Sales ratio for SONO stock in the period of the last 12 months amounting to 2.54. The Price to Book ratio for the last quarter was 7.01, with the Price to Cash per share for the same quarter was set at 5.34. Price to Free Cash Flow for SONO in the course of the last twelve months was 14.45 with Quick ratio for the last quarter at 2.00.

SONO Stock Performance Analysis:

Sonos Inc. [SONO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.60. With this latest performance, SONO shares dropped by -3.48% in over the last four-week period, additionally plugging by 26.59% over the last 6 months – not to mention a rise of 125.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SONO stock in for the last two-week period is set at 40.42, with the RSI for the last a single of trading hit 36.63, and the three-weeks RSI is set at 42.46 for Sonos Inc. [SONO]. The present Moving Average for the last 50 days of trading for this stock 35.04, while it was recorded at 34.49 for the last single week of trading, and 29.93 for the last 200 days.

Insight into Sonos Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Sonos Inc. [SONO] shares currently have an operating margin of +1.10 and a Gross Margin at +43.12. Sonos Inc.’s Net Margin is presently recorded at -1.52.

Return on Total Capital for SONO is now 4.17, given the latest momentum, and Return on Invested Capital for the company is -5.98. Return on Equity for this stock declined to -6.95, with Return on Assets sitting at -2.55. When it comes to the capital structure of this company, Sonos Inc. [SONO] has a Total Debt to Total Equity ratio set at 28.94. Additionally, SONO Total Debt to Total Capital is recorded at 22.44, with Total Debt to Total Assets ending up at 10.56. Long-Term Debt to Equity for the company is recorded at 23.04, with the Long-Term Debt to Total Capital now at 17.87.

Reflecting on the efficiency of the workforce at the company, Sonos Inc. [SONO] managed to generate an average of -$14,096 per employee. Receivables Turnover for the company is 16.82 with a Total Asset Turnover recorded at a value of 1.68.Sonos Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.40.

SONO Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SONO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sonos Inc. go to 26.60%.

Sonos Inc. [SONO] Insider Position Details

There are presently around $3,239 million, or 80.70% of SONO stock, in the hands of institutional investors. The top three institutional holders of SONO stocks are: BLACKROCK INC. with ownership of 11,700,686, which is approximately 103.099% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 10,965,516 shares of the stock with an approximate value of $364.93 million in SONO stocks shares; and LORD, ABBETT & CO. LLC, currently with $170.5 million in SONO stock with ownership of nearly 99.548% of the company’s market capitalization.

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Positions in Sonos Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 183 institutional holders increased their position in Sonos Inc. [NASDAQ:SONO] by around 29,313,400 shares. Additionally, 156 investors decreased positions by around 16,942,754 shares, while 36 investors held positions by with 51,071,576 shares. The mentioned changes placed institutional holdings at 97,327,730 shares, according to the latest SEC report filing. SONO stock had 93 new institutional investments in for a total of 8,525,157 shares, while 40 institutional investors sold positions of 2,408,508 shares during the same period.

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