Sonos Beats Earnings and Launches Google Assistant Support

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  • #20642
    Super Harley
    Participant

    Sonos released better than expected second quarter earnings…

    [article]1500[/article]

    #23500
    ThePitBoss
    Participant

    Goldman double downgrade of Sonos and calls for ‘severe reduction’ in smart speaker demand

    Goldman Sachs analyst Rod Hall cut his rating on the stock to sell from buy while lowering his target price to $7.50 from $20.

    “We now expect a severe reduction in smart speaker demand with Sonos products generally at the top end of the pricing spectrum,” Hall wrote. “We continue to believe that Sonos is a strong brand in the smart speaker category and expect its household penetration to increase over time. However, we are concerned that near-term demand impact will be more material than current consensus expectations and that recovery will be slower in 2021.”

    Sonos shares have lost 42% over the past three months as the S&P 500 SPX has dropped 15%.

    Market Summary > Sonos Inc
    NASDAQ: SONO
    8.74 USD −0.54 (5.82%)
    Apr 17, 12:04 PM EDT

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