What Happened: Shares of audio technology Sonos company (NASDAQ:SONO) jumped 19.2% in the morning session after the company reported first-quarter results that beat analysts' revenue and EPS estimates. Free cash flow also came in strong. In addition, it plans to announce an undisclosed new product line in a few months, likely building some excitement. Sonos's guidance, however, remained unchanged. Overall, this quarter's results seemed positive, and shareholders should feel optimistic.
Is now the time to buy Sonos? Find out by reading the original article on StockStory.
What is the market telling us: Sonos's shares are quite volatile and over the last year have had 12 moves greater than 5%. But moves this big are very rare even for Sonos and that is indicating to us that this news had a significant impact on the market's perception of the business.
Sonos is up 13.6% since the beginning of the year, but at $18.96 per share it is still trading 13% below its 52-week high of $21.78 from May 2023. Investors who bought $1,000 worth of Sonos's shares 5 years ago would now be looking at an investment worth $1,735.
