SONO Stock Recent News

Intel (INTC) shares close Thursday higher after Mizuho upgraded the stock to a "Buy" with a $50 price target, citing improvements to the company's data center roadmap and server product launches to come in 2024. Meanwhile, Sonos (SONO) stock surged on the company's expectations to generate over $100 million from a major new product introduction this year — possibly hinting at new headphones.

Sonos' sales are down, but customer loyalty remains high. The company's profit margins went down in the past year, but management expects the problem to be temporary.

Sonos's (SONO) fiscal fourth-quarter performance is affected due to softness across Sonos speakers and Sonos system products segments.

Sonos, Inc. (NASDAQ:SONO ) Q3 2023 Earnings Call Transcript November 15, 2023 5:00 PM ET Company Participants James Baglanis - Senior Director, Investor Relations Patrick Spence - Chief Executive Officer Edward Lazarus - Chief Financial Officer and Chief Legal Officer Conference Call Participants Tom Forte - D.A. Davidson Steve Frankel - Rosenblatt Erik Woodring - Morgan Stanley Jason Haas - Bank of America Alex Fuhrman - Craig-Hallum Capital Group Jake Norrison - Raymond James David Lustberg - Jefferies Operator Good afternoon.

The headline numbers for Sonos (SONO) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Sonos (NASDAQ:SONO) shares rose nearly 3% in extended trading Wednesday on a fiscal fourth-quarter loss that came in narrower than expected.  The audio technology company posted revenue of $305.1 million, down 3.5% year-over-year but above Street expectations of  $299.4 million.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Sonos (SONO), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2023.

An analyst downgraded his recommendation on the company's shares. He feels that they now only rate a neutral.

Sonos (NASDAQ:SONO), the wireless speaker company known for its smart speakers, has been downgraded to ‘Neutral' from ‘Buy' by analysts at Bank of America (BofA) Securities due to ongoing softness in consumer electronics spending. In a note to clients, the BofA analysts also lowered their price target to $12, from $20, citing the long replacement cycle of home audio products, weak housing turnover, and Sonos (NASDAQ:SONO)' elevated inventory and promotions.

A BofA Securities analyst sounded caution on shares of Sonos Inc. Tuesday, downgrading the stock amid concerns about promotional activity and weakness in the consumer-electronics market.