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SONO

Sonos

$14.42

-0.09 (-0.62%)

14:29
12/17/19
12/17
14:29
12/17/19
14:29

Sonos down 1% after competitor Bang & Olufsen lowers outlook

Shares of high-end audio products maker Sonos (SONO) are down 1% in afternoon trading after rival Bang & Olufsen lowered its revenue outlook B&O stated that "based on the estimated numbers for Q2 and the updated financial expectations for the rest of the year, the outlook for 2019/20 is adjusted" for revenue to be 13% to 18% lower than last year, from previously caling for single-digit growth; for EBIT margin of minus 4% to minus 9% adjusted for special items, compared to the previous view of higher than FY2018/19; and free cash flow of negative DKK 100M-150M, down from the prior view of positive cash flow. "The expectations for the full-year result are amongst others based on successful launch of a number of already planned new products, increased focus on cost reductions as well as improvements in sales and marketing execution capabilities. In addition, the company has initiated a number of new initiatives in order to improve sales already in the current financial year, including establishment of new sales programs, an improved sales and distribution network, competence lift in the sales organization and more product-focused marketing," Bang & Olufsen stated. Reference Link

SONO Sonos
$14.42

-0.09 (-0.62%)

11/06/19
DADA
11/06/19
NO CHANGE
Target $20
DADA
Buy
Sonos rallies after DA Davidson calls 'natural acquisition target' for Apple
DA Davidson analyst Tom Forte reiterates a Buy rating on Sonos (SONO) with a $20 price target following Alphabet's (GOOG, GOOGL) acquisition of Fitbit (FIT). The stock in early trading is up 82c to $14.28. The analyst sees Sonos as the most likely company he covers to have its shares rally from either an improvement in investor perception or a takeover. Sonos is the "best house" on the "bad block" of hardware companies, and is "adjacent to the mansion on the neighboring block, Apple (AAPL)," Forte tells investors in a research note. Similar to Apple, Sonos makes products that are superior to the competition, has an eye for design, and boasts a premium brand that enables it to sell its products at higher prices than others, the analyst says. Further, Forte believes that similar to Fitbit not getting proper credit for its healthcare-related efforts, Sonos does not get credit for its superior technology and premium brand. As such, he sees Sonos as a "natural acquisition target for Apple." Furthermore, while less obvious than Apple, Amazon (AMZN) could acquire Sonos to advance its connected home efforts, according to Forte. The analyst also thinks the company could go private given the "lack of appreciation by Wall Street."
11/12/19
RBCM
11/12/19
INITIATION
Target $18
RBCM
Outperform
Sonos initiated with an Outperform at RBC Capital
RBC Capital analyst Robert Muller initiated coverage of Sonos with an Outperform rating and $18 price target.
11/12/19
RBCM
11/12/19
INITIATION
Target $18
RBCM
Outperform
RBC starts Sonos with Outperform rating, $18 price target
RBC Capital analyst Robert Muller initiated coverage of Sonos with an Outperform rating and $18 price target. The analyst expects repeat purchases from Sonos' current customer base, when combined with first-time sales, to drive 10% revenue growth going forward. He does not believe the stock's current valuation "adequately captures" the company's acquisition potential, expansion opportunities, or current baseline growth.
11/13/19
11/13/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) and Sonos (SONO) were initiated with an Outperform at RBC Capital, while Jabil (JBL) was initiated with a Sector Perform. 2. JetBlue (JBLU) and United Airlines (UAL) were initiated with a Buy at UBS, while Delta Air Lines (DAL) and Southwest (LUV) were initiated with a Neutral, and American Airlines (AAL) was initiated with a Sell. 3. ManpowerGroup (MAN) initiated with a Buy at CL King. 4. Concho Resources (CXO) initiated with an Outperform at Scotiabank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

TLGT

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DVA

DaVita

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TSM

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-0.18 (-0.31%)

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KKR

KKR

$31.20

0.7 (2.30%)

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KKR

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$31.20

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APO

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$50.35

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BX

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$60.79

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CG

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$33.30

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HLNE

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, NFLX

Netflix

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GOOG

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$1,480.28

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NFLX

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$339.56

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CMCSK

Comcast

$0.00

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CMCSA

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$47.48

0.62 (1.32%)

GOOGL

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$1,479.12

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

, WMT

Walmart

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JWN

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WMT

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CSPR

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  • 21

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BA

Boeing

$324.11

-7.89 (-2.38%)

, DDAIF

Daimler AG

$0.00

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FCAU

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$13.76

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VWAGY

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$0.00

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FSLR

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$53.51

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AAPL

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$318.66

3.33 (1.06%)

DQ

Daqo New Energy

$53.61

-0.025 (-0.05%)

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  • 28

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SPOT

Spotify

$148.20

-3.59 (-2.37%)

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CE

Celanese

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-0.53 (-0.45%)

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  • 31

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BYND

Beyond Meat

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DBD

Diebold

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IEF

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SLV

iShares Silver Trust

$16.82

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UBSFY

Ubisoft

$0.00

(0.00%)

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  • 17

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IMVT

Immunovant

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TBLT

ToughBuilt

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MYO

Myomo

$0.32

0.0062 (1.98%)

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  • 21

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SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

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  • 21

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SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

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ECA

Encana

$4.09

-0.18 (-4.22%)

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Encana receives court approval for reorganization »

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  • 29

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MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

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Vodafone

$20.07

-0.225 (-1.11%)

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BT Group

$0.00

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16:30
01/17/20
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Options
Preliminary option volume of 28.7M today »

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