SONO Stock Summary and Trading Ideas (Sonos | NASDAQ:SONO)

Sonos Inc is engaged in providing home sound systems. The company's product profile includes speaker sets and other accessories like boost, mounts, stands, and cables and networking. Geographically, the company operates in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. Generating a majority of its revenue from the Americas.

Sonos trades on the NASDAQ stock market under the symbol SONO.

As of April 25, 2024, SONO stock price declined to $17.13 with 691,662 million shares trading.

SONO has a beta of 2.26, meaning it tends to be more sensitive to market movements. SONO has a correlation of 0.23 to the broad based SPY ETF.

SONO has a market cap of $2.13 billion. This is considered a Mid Cap stock.

Last quarter Sonos reported $613 million in Revenue and $.84 earnings per share. This beat revenue expectation by $26 million and exceeded earnings estimates by $.45.

In the last 3 years, SONO stock traded as high as $43.39 and as low as $9.78.

The top ETF exchange traded funds that SONO belongs to (by Net Assets): IJR, VTI, VB, CALF, IWM.

SONO has underperformed the market in the last year with a price return of -17.4% while the SPY ETF gained +23.6%. However, in the short term, SONO had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.4% vs +4.1% return in SPY. But in the last 2 weeks, SONO shares have been beat by the market, returning -4.2% compared to an SPY return of -2.1%.

SONO support price is $16.99 and resistance is $17.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SONO stock will trade within this expected range on the day.