Sonos (SONO) Receives a Buy from RBC Capital


In a report released yesterday, Robert Muller from RBC Capital maintained a Buy rating on Sonos (SONO), with a price target of $12.00. The company’s shares closed last Thursday at $9.72.

According to TipRanks.com, Muller is a 2-star analyst with an average return of 0.2% and a 53.8% success rate. Muller covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, National Instruments, and Dell Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for Sonos with a $11.50 average price target.

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Based on Sonos’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $562 million and net profit of $70.78 million. In comparison, last year the company earned revenue of $496 million and had a net profit of $61.67 million.

Based on the recent corporate insider activity of 54 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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