Morgan Stanley raised the price target for the Sonos Inc (NASDAQ:SONO) stock from “an Equal-weight” to “an Overweight”. The rating was released on December 12, 2023, according to finviz. We previously noted in another research note published on November 07, 2023 by BofA Securities that downgraded the stock from a Buy to a Neutral with a price target of $12 for SONO stock. The research report from Rosenblatt has initiated the stock to Buy, with a price target set at $20. The stock was initiated by Craig Hallum, who disclosed in a research note on September 08, 2023, to Buy and set the price objective to $20. In their research brief published June 15, 2022, Morgan Stanley analysts downgraded the Sonos Inc stock from Overweight to Equal-Weight with a price target of $28.
The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 1.91% within the last five trades and 2.29% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 52.54% in the last 6 months and 10.27% was added to its value over the previous 3 months. SONO stock is trading at a margin of 1.79%, 7.31% and 25.40% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, SONO deals in the Technology domain. The stock is trading -12.56 percent below its 52-week high and 96.52 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 14.2. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Sonos Inc’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 1.22 percent and the profit margin is -0.28 percent, and the company has reported a gross margin of 44.72 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $2.38 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 37.48. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 1.49 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 4.11, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 1.86 percent of Sonos Inc shares are owned by insiders, and 87.99 percent are held by financial institutions. Coles Joanna, the Director at Sonos Inc (SONO) has sold 905 shares of firm on Mar 04 ’24 at a price of $19.35 against the total amount of $17512.0. In another inside trade, Conrad Thomas, Director of Sonos Inc (NASDAQ:SONO) sold 5,337 shares of the firm on Feb 07 ’24 for a total worth of $97720.0 at a price of $18.31. An inside trade which took place on Feb 05 ’24, Director of Sonos Inc Coles Joanna sold 905 shares of firm against total price of $14317.0 at the cost of $15.82 per share.
