Sonos (SONO) shares are trading at 19.08, and the company is releasing its quarterly earnings on Monday, September 10, after market close. What's driving SONO stock price? What's SONO stock price forecast, and what should investors know about the stock?
Sonos, a maker of high-end speakers had a dream IPO earlier this year. The largest company owner before the offering was a private equity firm KKR with a 26% stake. Sonos reports in three segments: wireless speakers, home theater speakers, and components. Speaker sales make a bulk of the company’s total revenue.
Some investors have voiced their concerns about the competitive home audio market. On the other hand, the bulls are confident of the company’s loyal customer base and the expanding product portfolio. A unique thing for Sonos is that its devices are compatible with Alexa voice services and the company is working to make them compatible with Google Assistant and Apple’s Siri.
The next quarter results will be released after market close on September 10, 2018. The company had reported revenue of $992.5 million for the fiscal year ending September 2017. This year the revenue is expected to cross $1 billion.
What is the sentiment towards the SONO stock? Our technical analysis shows that:
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