Sonos (NASDAQ:SONO) Trading 4.7% Higher – Still a Buy?

Shares of Sonos, Inc. (NASDAQ:SONO) shot up 4.7% on Monday . The company traded as high as $12.44 and last traded at $12.50. 407,618 shares traded hands during trading, a decline of 81% from the average session volume of 2,170,200 shares. The stock had previously closed at $11.93.

Analysts Set New Price Targets

Separately, Rosenblatt Securities restated a “buy” rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th.

Sonos Stock Performance

The company has a 50-day simple moving average of $14.14 and a two-hundred day simple moving average of $13.18. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -21.97 and a beta of 1.97.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. As a group, sell-side analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sonos

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings in Sonos by 153.4% during the 4th quarter. Mackenzie Financial Corp now owns 89,993 shares of the company’s stock worth $1,353,000 after buying an additional 54,475 shares during the period. Public Employees Retirement System of Ohio increased its position in Sonos by 2,283.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 44,071 shares of the company’s stock valued at $663,000 after buying an additional 42,222 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Sonos by 26.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 375,614 shares of the company’s stock worth $5,649,000 after purchasing an additional 77,765 shares during the period. Systematic Financial Management LP raised its holdings in Sonos by 6.5% during the fourth quarter. Systematic Financial Management LP now owns 969,518 shares of the company’s stock worth $14,582,000 after buying an additional 59,164 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Sonos during the 4th quarter valued at about $103,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Company Profile

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.