Sonos Inc (NASDAQ:SONO) price on current trading day, rose 2.41% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $14.42.
A look at the stock’s price movement, the level at last check in today’s session was $14.08, moving within a range at $14.17 and $15.8899. Turning to its 52-week performance, $19.76 and $10.23 were the 52-week high and 52-week low respectively. Overall, SONO moved 16.48% over the past month.
Sonos Inc’s market cap currently stands at around $1.74 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-13.
Analysts have a consensus estimate of 518.95M for the company’s revenue for the quarter, with a low and high estimate of 517.58M and 520.33M respectively. The average forecast suggests down to a -15.32% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.48B, representing a -2.43% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SONO is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 6 recommend SONO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SONO’s current price about 8.23% and 14.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 68.11, while 7-day volatility ratio is 3.09% and 3.56% in the 30-day chart. Further, Sonos Inc (SONO) has a beta value of 2.05, and an average true range (ATR) of 0.58. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $11 and high of $35. Looking at the price targets, the low is 23.72% off recent price level in today’s trading while to achieve the yearly target high, it has to move -142.72%. Nonetheless, investors will most likely welcome a -24.83% jump to $18 which is the analysts’ median price.
If we refocus on Sonos Inc (NASDAQ:SONO), historical trading data shows that trading volumes averaged 1.96 over the past 10 days and 1.93 million over the past 3 months. The company’s latest data on shares outstanding shows there are 125.11 million shares.
The 1.91% of Sonos Inc’s shares are in the hands of company insiders while institutional holders own 85.95% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.63 million on 2024-10-31, giving us a short ratio of 6.71. The data shows that as of 2024-10-31 short interest in Sonos Inc (SONO) stood at 1135.9999 of shares outstanding, with shares short falling to 10.12 million registered in 2024-09-30. Current price change has pushed the stock -15.87% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SONO stock continues to rise going into the next quarter.
