Sonos, Inc. (NASDAQ:SONO) was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 38.7% in the past one-month time frame.
The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Sonos currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Consumer Discretionary sector may consider a better-ranked stock like Caleres, Inc. (NYSE:CAL) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is SONO going up? Or down? Predict to see what others think:Up or Down
Legalizing THIS Could Be Even Bigger than Marijuana
Americans spend an estimated $150 billion in this industry every year… more than twice as much as they
spend on marijuana.
Now that 8 states have fully-legalized it (with several more states following close behind), Zacks has
identified 5 stocks that could soar in response to the powerful demand. One industry insider described
the future as “mind-blowing” – and early investors can still get in ahead of the surge.
See these 5 “sin stocks” now >>
Sonos, Inc. (SONO): Free Stock Analysis Report
Caleres, Inc. (CAL): Free Stock Analysis Report
Original post
Zacks Investment Research