Sonos (SONO) to Release Quarterly Earnings on Tuesday

Sonos (NASDAQ:SONO) is scheduled to be releasing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect Sonos to post earnings of ($0.27) per share for the quarter. Sonos has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s conference call can do so using this link.

Sonos (NASDAQ:SONO) last released its quarterly 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. The company had revenue of $612.87 million for the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. 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 2.0 %

Shares of NASDAQ:SONO opened at $17.31 on Tuesday. Sonos has a 1 year low of $9.78 and a 1 year high of $21.98. The firm’s 50-day moving average is $18.36 and its two-hundred day moving average is $16.15.

Analyst Upgrades and Downgrades

A number of analysts have 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 reaffirmed a “buy” rating and issued a $24.00 price target on shares of Sonos in a report on Monday, March 25th. Finally, Morgan Stanley raised their price objective on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Insider Activity

In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction on Wednesday, April 10th. The shares were 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 owns 119,179 shares in the company, valued at approximately $2,099,933.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sonos news, 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 approximately $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,147 shares of company stock valued at $484,972. 3.30% of the stock is currently owned by company insiders.

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.