On Jan. 04, Millington Nicholas divested U.S. $526,927 in shares of Sonos Inc.. The Chief Innovation Officer sold 22,638 shares at a price per share of $23.28. The transaction decreased this specific insider’s holdings to 110,982 shares worth around $2.69 million at present.
BofA Securities took its Sonos Inc. [SONO] rating to the equivalent of a Buy from a Neutral, and the price target to $18, in a research note dated October 15, 2020. That figure represents around a -34.72% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with BofA Securities’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in mid October. Meanwhile, Raymond James had lowered its rating on SONO to “Mkt perform” from the earlier “Strong buy”, in a research note produced for clients July 29, 2020. In addition, there was a downgrade from Goldman on April 17, 2020. The rater changed SONO from “a Buy” to “a Sell”.
Is Sonos Inc. [NASDAQ:SONO] a Good Buy Right Now?
It should be noted that SONO technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Sonos Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 3.17 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 4.54 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 3.93 million shares.
SONO Price Performance
On Wall Street, Sonos Inc. [NASDAQ:SONO] finished Wednesday’s session up 1.17% at $24.25. The stock went up to $24.67 at the same session while its lowest single day price was $23.72. In the last five days, it saw a rise of about 5.21%, Sonos Inc. shares gained by almost 3.68% since the beginning of the year. However, the share price has dropped to as low as -4.53% below its one year high. On 01/06/21, the company shares recorded $24.67, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $22.76. The company’s shares have inclined by 53.97% in the past year. The 50-day SMA achieved is $20.24 while the 200-day SMA is $14.65. Volume gained to 1.91 million from 1.84 million in the previous session.
SONO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 23.76 level, and in case of violation of this particular level, it will cause more drop to 23.26 level. On the upper level, 25.16 is still the key resistance. The stock may increase to the subsequent resistance at 24.71. The Relative Strength Index (RSI) pinned on the 14-day chart is 63.06, implying a neutral technical stance while the MACD stands at -0.10, meaning price will decrease in the next trading period. Percent R indicator moved to 34.23%, implying low price movement. Stochastic %K at 61.08% suggest holding the stock.
What is the short interest in Sonos Inc.?
Short interest in the Sonos Inc. stock has plunged, decreasing by -0.48 million shares to total 6.91 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 6.43 million, data from Yahoo Finance shows. The increase of 6.95% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.39% of the overall float for the stock.
Sonos Inc.’s Biggest Shareholders: Who Owns Sonos Inc. [SONO]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 8,325,953 shares or roughly 7.38% of the outstanding SONO shares. This means their shares have increased by 1,208,736 from the 8,325,953 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $107,482,651. Details in the latest 13F filings reveal that Hawk Ridge Capital Management LP acquired their 40.77% stake valued at $74,684,544 while Point72 Asset Management LP cut theirs at $72,355,905. During the last quarter, Hawk Ridge Capital Management LP raised 972,561 of its shares in Sonos Inc. while Point72 Asset Management LP sold -101,315 shares. The Trigran Investments, Inc.’s holdings currently number 3,079,849 shares at $74686338.25. According to the firm’s last 13F report, Citadel Advisors LLC shares in the company at filing stood at 2,273,795 shares, roughly $50,569,201.
SONO Earnings Forecast For The Current Quarter
Sonos Inc. [SONO] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $590.02M and an earnings per share of $0.87 for Dec 2020. Looking further ahead, the company is expected to report revenue of $225.86M at an EPS of -$0.25 for Mar 2021. The estimates represent 8.60% and 25.25% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SONO Earnings Estimates For The Current Year
For the financial year, Sonos Inc. [NASDAQ:SONO] is expected to bring in revenue of $1.46B. The returns are nearly $130.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 0.69, higher than that of FY20 by $0.87. Estimates put this year’s earnings growth at 483.30%, 26.10% for the next, and at an annual 26.60% over the next 5-year period. As for sales, forecasts are for an increase of 10.00% in the current fiscal year and a further 8.60% over the following year.
What are analyst thoughts on Sonos Inc.?
Looking forward to the Sonos Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Sonos Inc. stock at $24.00 within the next 12 months, which represents almost -1.04 per cent growth from its previous closing price of $24.25. The highest analysts’ target for Sonos Inc. stock projections is $30.00 and the lowest one is $17.00. Still, 8 analysts sharing their consensus rating for SONO stock in 2021 agree that it is an Overweight.