In a report released today, John Babcock from Merrill Lynch reiterated a Hold rating on Sonos (SONO), with a price target of $12.90. The company’s shares closed last Thursday at $9.72.
According to TipRanks.com, Babcock is ranked #3582 out of 6523 analysts.
Currently, the analyst consensus on Sonos is a Hold with an average price target of $11.50.
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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.
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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.
