Why Sonos Stock Was Moving Higher Today
Shares of Sonos (NASDAQ: SONO), the maker of Bluetooth-enabled sound bars, speakers, and other audio equipment, were moving higher today after the company delivered better-than-expected results in its fiscal first-quarter earnings report. The company also said it would cut 12% of its workforce as part of an ongoing restructuring, as sales are still declining even as it beat estimates.
As of 3:01 p.m. ET, the stock was up 4.5% on the news after gaining as much as 10% earlier in the session.
Image source: Sonos.
Source Fool.com
Sonos Inc Stock
€9.07
-1.110%
Currently there is a rather positive sentiment for Sonos Inc with 4 Buy predictions and 1 Sell predictions.
As a result the target price of 13 € shows a positive potential of 43.3% compared to the current price of 9.07 € for Sonos Inc.
