Stifel analyst Matthew Sheerin noted that Ikea has released a photo of its new Sonos-powered speaker, the "Symfonisk," which will be available in August. The device appears to be powered by Sonos' low-end speaker, though it is unclear whether it will be voice-enabled and pricing isn't yet available, said Sheerin. Given the delayed launch of the Sonos-powered speaker line by Ikea and channel inventory reductions in the March quarter, Sheerin lowered his March-quarter estimates and raised estimates for the back half of 2019. The analyst, who maintains his FY19 and FY20 revenue and margin estimates, keeps a Hold rating on Sonos shares and trimmed his price target on the stock to $13 from $14.