What to Expect When Sonos Reports After the Close

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Sonos Inc. (NASDAQ: SONO) is scheduled to release its fiscal third-quarter financial results after the markets close on Monday. This will be the first quarter that Sonos reports as a public company. Consensus estimates call for a net loss of $0.22 per share and $207.96 million in revenue.

This company sits at the intersection of emerging trends driving the future of home entertainment. The proliferation of streaming services and the rapid adoption of voice assistants are significantly changing audio consumption habits and how consumers interact with the internet. As one of the leading home sound systems, content partners and developers, Sonos is poised to capitalize on the large market opportunity created by these dynamics.

Sonos debuted the world’s first wireless multiroom home sound system in 2005, and it has since been a leading innovator in wireless home audio. Its products include wireless speakers, home theater speakers and components to address consumers’ evolving home audio needs. The firm launched its first voice-enabled wireless speaker, Sonos One, in October 2017, and its first voice-enabled home theater speaker, Sonos Beam, in July 2018.

Excluding Monday’s move, Sonos has underperformed the broad markets, with its stock down about 6% since it came public in early August.

A few analysts weighed in on Sonos ahead of the report:

  • Jefferies has a Hold rating with a $23 price target.
  • Morgan Stanley has an Equal Weight rating with a $20 target.
  • RBC has an Outperform rating with a $25 price target.
  • Raymond James has an Outperform rating with a $24 target.
  • Stifel has a Hold rating with a $20 target price.
  • Goldman Sachs has a Buy rating and a $25 price target.

Shares of Sonos were last seen up about 7% at $20.07, with a consensus analyst price target of $22.83 and a 52-week range of $15.51 to $23.60.