Sonos Inc (NASDAQ:SONO) price on current trading day, fall -3.00% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $14.21.
A look at the stock’s price movement, the close in the last trading session was $14.65, moving within a range at $14.07 and $14.7058. Turning to its 52-week performance, $19.76 and $10.23 were the 52-week high and 52-week low respectively. Overall, SONO moved 3.20% over the past month.
Sonos Inc’s market cap currently stands at around $1.73 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 519.47M for the company’s revenue for the quarter, with a low and high estimate of 517.58M and 521.57M respectively. The average forecast suggests down to a -15.24% 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 -2.59% 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 Hold 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 3.85% and 9.57% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.88, while 7-day volatility ratio is 4.10% and 5.05% in the 30-day chart. Further, Sonos Inc (SONO) has a beta value of 2.03, and an average true range (ATR) of 0.63. Analysts have given the company’s stock an average 52-week price target of $14.5, forecast between a low of $11 and high of $18. Looking at the price targets, the low is 22.59% off current price level while to achieve the yearly target high, price needs to move -26.67%. Nonetheless, investors will most likely welcome a -2.04% jump to $14.5 which is the analysts’ median price.
If we refocus on Sonos Inc (NASDAQ:SONO), historical trading data shows that trading volumes averaged 1.85 over the past 10 days and 2.01 million over the past 3 months. The company’s latest data on shares outstanding shows there are 121.76 million shares.
The 2.04% of Sonos Inc’s shares are in the hands of company insiders while institutional holders own 89.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.72 million on 2024-11-15, giving us a short ratio of 4.69. The data shows that as of 2024-11-15 short interest in Sonos Inc (SONO) stood at 1019.0000000000001 of shares outstanding, with shares short falling to 9.93 million registered in 2024-10-15. Current price change has pushed the stock -17.09% 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.
