In a report issued on August 6, Brent Thill from Jefferies assigned a Hold rating to Sonos (SONO), with a price target of $16.00. The company’s shares closed last Friday at $13.70.
According to TipRanks.com, Thill is a top 25 analyst with an average return of 21.3% and a 75.7% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Endurance International, and CrowdStrike Holdings.
Sonos has an analyst consensus of Moderate Buy, with a price target consensus of $17.06, a 18.0% upside from current levels. In a report issued on July 29, Raymond James also downgraded the stock to Hold with a $13.86 price target.
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Based on Sonos’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $175 million and GAAP net loss of $52.32 million. In comparison, last year the company earned revenue of $260 million and had a GAAP net loss of $14.01 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SONO in relation to earlier this year.
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Sonos, Inc. provides multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts, and audiobooks, with control from Android smartphones, iPhone, or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A. Shelburne and Thomas S. Cullen in 2002 and is headquartered in Santa Barbara, CA.