Sonos (SONO) to Release Quarterly Earnings on Tuesday

Sonos (NASDAQ:SONO) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Sonos has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. The company had revenue of $612.87 million for the quarter, compared to the consensus estimate of $588.96 million. On average, analysts expect Sonos to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sonos Trading Up 0.6 %

Shares of NASDAQ SONO opened at $17.05 on Friday. Sonos has a twelve month low of $9.78 and a twelve month high of $21.98. The business has a 50 day simple moving average of $18.23 and a 200-day simple moving average of $16.28. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -568.14 and a beta of 2.00.

Insider Activity

In other news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Sonos news, Director Thomas Conrad sold 5,337 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the sale, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,147 shares of company stock worth $484,972. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SONO shares. TheStreet raised Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Rosenblatt Securities restated a “buy” rating and set a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. Finally, Morgan Stanley boosted their target price on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sonos currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.