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Wednesday, December 6, 2023

Analyst Expects Sonos Inc (NASDAQ: SONO) To Make Big Moves

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Sonos Inc (SONO) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.16, or 1.42%, to $11.42. The Sonos Inc has recorded 51,206 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Sonos Announces Date for Fourth Quarter and Fiscal 2023 Financial Results and Conference Call.

Stocks Info

As a NASDAQ listed company, SONO falls under the Technology sector while operating within the Consumer Electronics industry segment. At the end of the last regular session, the stock closed at $11.26 and fluctuated between $11.41 as its day high and $10.97 as its day low. The current market capitalization of Sonos Inc is $1.44B. A total of 3.21 million shares were traded on the day, compared to an average of 1.89M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, SONO has seen 8 BUY and 10 SELL insider trades, representing the acquisition of 289,254 and the disposition of 183,790 shares. Over the last 12 months, there were 32 BUYs and 39 SELLs from insiders. Insiders purchased 777,418 shares during that period but sold 557,692.

In the most recent transaction, Spence Patrick sold 45,000 shares of SONO for 13.41 per share on Sep 20. After the transaction, the Chief Executive Officer now owns 925,869 company shares. In a previous transaction on Aug 15, Bouvat-Merlin Maxime sold 7,496 shares at 14.08 per share. SONO shares that Chief Product Officer owns now total 21,681.

Among the insiders who sold shares, Coles Joanna disposed of 905 shares on Aug 03 at a per-share price of $16.56. This resulted in the Director holding 20,248 shares of SONO after the transaction. In another insider transaction, Coles Joanna sold 905 shares at $16.42 per share on Jul 03. Company shares held by the Director now total 21,153.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for SONO in the last 3 months, the mean price target is $19.40 with high estimates of $24.00 and low estimates of $12.00. In terms of 52-week highs and lows, SONO has a high of $21.98 and a low of $9.78.

As of this writing, SONO has an earnings estimate of $Sonos, Inc. per share for the current quarter. EPS was calculated based on a consensus of Sony Group Corporation estimates, with a high estimate of $Electrameccanica Vehicles Corp. per share and a lower estimate of $Williams-Sonoma, Inc.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. SONO’s latest balance sheet shows that the firm has $640.10M in Cash & Short Term Investments as of fiscal 2021. There were $44.68M in debt and $476.13M in liabilities at the time. Its Book Value Per Share was $4.53, while its Total Shareholder’s Equity was $569.04M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SONO is Buy with a score of 4.14.

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