Sonos, Inc. (SONO) Stock Taking Solid Steps Ahead in Premarket, Here’s Why


Sonos, Inc. (SONO), a company involved in the development of multi-room audio products, slid 3.82% in the premarket trading session during Friday’s regular trading session and closed the day at $26.46. In the premarket trading session, SONO stock has soared by 7.67% and consequently was trading at $28.49 when last checked. The stock started to increase following the announcement that SONO would join SmallCap 600.

25-cent Stock Takes $11T Commodities Sector Digital

One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.

All the details are in the FREE online report you can get here.


Change in Dow Jones Indices

On Friday, S&P Dow Jones Indices saw a change when it was announced that Sonos Inc. (SONO) would become a part of the S&P SmallCap 600 index in the place of Chart Industries, which would join S&P MidCap 400 in place of CyrusOne Inc. All of the changes were to become effective before the trading would commence on Wednesday.

SONO Executives to Participate in Conference

In early March, SONO announced that its Chief Executive Officer, Patrick Spence, and Chief Financial Officer, Brittany Bagley, would participate in the Morgan Stanley Technology, Media, and Telecom conference. The conference was to take place on the 9th of March 2022. Both the executives were also expected to participate in a fireside chat as well.

Q1 2022 Financial Results

In early February, SONO released the financial results for Q1 2022. The revenue generated by Sonos increased by 3% on a year-over-year basis to reach $664.5 million. The gross margin saw an increase of 140 base points versus Q1 2021 and consequently reached 47.8% during the quarter. The GAAP net income for the three months was $123.5 million compared to $132.3 million during Q1 2021, while the GAAP diluted EPS for the quarter was $0.87 versus $1.01 during the same quarter of the preceding year.

What’s Coming Up for SONO?

Looking ahead, analysts are of the view that even though SONO stock holds several positive signals, they are not enough for it to be considered for buying. Hence, at the current level, the stock should be considered a hold candidate while waiting for upcoming developments.


Please enter your comment!
Please enter your name here