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Stock impact report

Sonos stock falls after double downgrade at Goldman calls for 'severe reduction' in speaker demand [MarketWatch]

Sonos, Inc. (SONO) 
Last sonos, inc. earnings: 2/5 04:05 pm Check Earnings Report
Company Research Source: MarketWatch
Shares of Sonos Inc. are off 5.5% in Friday morning trading after Goldman Sachs analyst Rod Hall cut his rating on the stock to sell from buy while lowering his target price to $7.50 from $20. "We now expect a severe reduction in smart speaker demand with Sonos products generally at the top end of the pricing spectrum," Hall wrote. "We continue to believe that Sonos is a strong brand in the smart speaker category and expect its household penetration to increase over time. However, we are concerned that near-term demand impact will be more material than current consensus expectations and that recovery will be slower in 2021." Sonos shares have lost 42% over the past three months as the S&P 500 has dropped 15%. Show less Read more
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