Morgan Stanley slashes price target on Sonos Inc. [SONO] – find out why.


Sonos Inc. [NASDAQ: SONO] plunged by -$0.18 during the normal trading session on Wednesday and reaching a high of $20.22 during the day while it closed the day at $19.42. The company report on May 26, 2022 that Sonos Announces Participation in Upcoming Conferences.

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Sonos, Inc. (Nasdaq: SONO) today announced that Brittany Bagley, Chief Financial Officer, will participate in the following upcoming investor conferences.

Sonos Inc. stock has also loss -12.76% of its value over the past 7 days. However, SONO stock has declined by -24.38% in the 3 months of the year. Over the past six months meanwhile, it has lost -33.24% and lost -34.83% year-on date.

The market cap for SONO stock reached $2.53 billion, with 128.11 million shares outstanding and 126.25 million shares in the current float. Compared to the average trading volume of 3.33M shares, SONO reached a trading volume of 5120447 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $33.29 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 2.10. 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.

Morgan Stanley have made an estimate for Sonos Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price from $43 to $50. The new note on the price target was released on August 16, 2021, representing the official price target for Sonos Inc. stock. Previously, the target price had yet another raise from $17 to $37, while Goldman kept a Neutral rating on SONO stock.

The Average True Range (ATR) for Sonos Inc. is set at 1.29, with the Price to Sales ratio for SONO stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 3.71, with the Price to Cash per share for the same quarter was set at 4.66. Price to Free Cash Flow for SONO in the course of the last twelve months was 21.38 with Quick ratio for the last quarter at 1.60.

SONO stock trade performance evaluation

Sonos Inc. [SONO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.76. With this latest performance, SONO shares dropped by -10.63% in over the last four-week period, additionally sinking by -33.24% over the last 6 months – not to mention a drop of -43.79% 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 37.50, with the RSI for the last a single of trading hit 31.91, and the three-weeks RSI is set at 39.91 for Sonos Inc. [SONO]. The present Moving Average for the last 50 days of trading for this stock 22.84, while it was recorded at 20.38 for the last single week of trading, and 28.47 for the last 200 days.

Sonos Inc. [SONO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sonos Inc. [SONO] shares currently have an operating margin of +10.64 and a Gross Margin at +47.18. Sonos Inc.’s Net Margin is presently recorded at +9.24.

Return on Total Capital for SONO is now 36.60, given the latest momentum, and Return on Invested Capital for the company is 32.72. Return on Equity for this stock inclined to 36.59, with Return on Assets sitting at 16.23. When it comes to the capital structure of this company, Sonos Inc. [SONO] has a Total Debt to Total Equity ratio set at 5.97. Additionally, SONO Total Debt to Total Capital is recorded at 5.63, with Total Debt to Total Assets ending up at 3.92. Long-Term Debt to Equity for the company is recorded at 5.97, with the Long-Term Debt to Total Capital now at 5.63.

Receivables Turnover for the company is 22.05 with a Total Asset Turnover recorded at a value of 1.76.Sonos Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.20.

Earnings per share (EPS) analysis for Sonos Inc. [SONO] stock

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 10.40%.

Sonos Inc. [SONO]: Insider Ownership positions

There are presently around $2,380 million, or 98.20% of SONO stock, in the hands of institutional investors. The top three institutional holders of SONO stocks are: BLACKROCK INC. with ownership of 22,364,298, which is approximately 77.425% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 13,604,113 shares of the stock with an approximate value of $266.64 million in SONO stocks shares; and MORGAN STANLEY, currently with $96.28 million in SONO stock with ownership of nearly 18.84% of the company’s market capitalization.

Positions in Sonos Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 185 institutional holders increased their position in Sonos Inc. [NASDAQ:SONO] by around 34,248,429 shares. Additionally, 199 investors decreased positions by around 18,066,912 shares, while 57 investors held positions by with 69,113,363 shares. The mentioned changes placed institutional holdings at 121,428,704 shares, according to the latest SEC report filing. SONO stock had 65 new institutional investments in for a total of 7,851,048 shares, while 89 institutional investors sold positions of 6,072,804 shares during the same period.