While Sonos Inc has underperformed by -1.74%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SONO fell by -4.79%, with highs and lows ranging from $21.98 to $9.78, whereas the simple moving average jumped by 21.35% in the last 200 days.
On December 12, 2023, Morgan Stanley Upgraded Sonos Inc (NASDAQ: SONO) to Overweight. A report published by BofA Securities on November 07, 2023, Downgraded its rating to ‘Neutral’ for SONO. Rosenblatt also rated SONO shares as ‘Buy’, setting a target price of $20 on the company’s shares in an initiating report dated September 20, 2023. Craig Hallum Initiated an Buy rating on September 08, 2023, and assigned a price target of $20. Morgan Stanley June 15, 2022d its ‘Overweight’ rating to ‘Equal-Weight’ for SONO, as published in its report on June 15, 2022. Jefferies’s report from August 16, 2021 suggests a price prediction of $50 for SONO shares, giving the stock a ‘Buy’ rating. Goldman also rated the stock as ‘Neutral’.
Analysis of Sonos Inc (SONO)
Further, the quarter-over-quarter decrease in sales is -8.88%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Sonos Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -0.74% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.56, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SONO is recording an average volume of 2.15M. On a monthly basis, the volatility of the stock is set at 2.87%, whereas on a weekly basis, it is put at 2.58%, with a loss of -2.76% over the past seven days. Furthermore, long-term investors anticipate a median target price of $23.60, showing growth from the present price of $18.69, which can serve as yet another indication of whether SONO is worth investing in or should be passed over.
How Do You Analyze Sonos Inc Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.86%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 88.01% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SONO shares are owned by institutional investors to the tune of 88.01% at present.
