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Sonos (SONO) to Launch 8" In-Ceiling Speaker by Spring 2024
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Sonos (SONO - Free Report) announced that it had collaborated with Sonance to launch the 8" In-Ceiling speaker. The speaker will expand the company’s architectural line of passive speakers and will be available in spring 2024 at $999 per pair.
The speaker is designed with an enlarged woofer, high-excursion motor, and optimized tweeter to ensure smooth midrange, deep bass, and wide sound coverage. The 8" In-Ceiling Speaker can be paired with a Sonos Amp to enhance multiroom audio. It also features benefits like overdrive protection and Trueplay tuning for optimal sound based on room characteristics.
The new speaker will address the demands of professional installers and customers seeking a tailored design and audio experience. The Sonos ecosystem, including an intuitive app, Apple AirPlay 2 control, and regular updates, further complements the 8" In-Ceiling Speaker's features.
Sonos operates as a consumer electronics company that is primarily involved in the manufacturing of speakers with immersive sound experiences. It is benefiting from robust demand for its products in the growing global audio market.
The company is looking to tap the growing demand for spatial audio experience with the launch of new speakers. Per a report from Expert Market Research, the global 3D audio market size is expected to witness a CAGR of 16% between 2024 and 2032 and reach $35.81 billion.
The company has launched six new products and services in fiscal 2023, with Move 2 being the most recent product introduction. It is the next-generation version of its Move speaker, unveiled in September 2023. In March 2023, the company also launched two new smart speakers, the Sonos Era 300 and Sonos Era 100.
The company is planning to enter the headphones market by launching a new product priced at approximately $400 by April 2024. Sonos is planning to expand its product portfolio and improve its existing offerings to boost its top-line performance.
The company is also reportedly developing amplifiers, in-ceiling speakers for installers, a high-end TV sound bar and new subwoofers. Also, the company plans to roll out updates to its Roam speaker lineup and launch a business version of its Era 100 speaker. Moreover, the company was upbeat regarding new product launches and expects to generate more than $100 million from new product introductions in fiscal 2024.
SONO currently has a Zacks Rank #3 (Hold). The stock lost 10.1% against the sub-industry’s growth of 9.8% in the past year.
The Zacks Consensus Estimate for Woodward’s 2023 EPS has inched up 6% in the past 60 days to $4.94. WWD’s long-term earnings growth rate is 15.3%.
Woodward’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average surprise being 14.7%. Shares of WWD have gained 31% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days.
NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR have lost 29.5% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 23.2% in the past year.
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Sonos (SONO) to Launch 8" In-Ceiling Speaker by Spring 2024
Sonos (SONO - Free Report) announced that it had collaborated with Sonance to launch the 8" In-Ceiling speaker. The speaker will expand the company’s architectural line of passive speakers and will be available in spring 2024 at $999 per pair.
The speaker is designed with an enlarged woofer, high-excursion motor, and optimized tweeter to ensure smooth midrange, deep bass, and wide sound coverage. The 8" In-Ceiling Speaker can be paired with a Sonos Amp to enhance multiroom audio. It also features benefits like overdrive protection and Trueplay tuning for optimal sound based on room characteristics.
The new speaker will address the demands of professional installers and customers seeking a tailored design and audio experience. The Sonos ecosystem, including an intuitive app, Apple AirPlay 2 control, and regular updates, further complements the 8" In-Ceiling Speaker's features.
Sonos, Inc. Price and Consensus
Sonos, Inc. price-consensus-chart | Sonos, Inc. Quote
Sonos operates as a consumer electronics company that is primarily involved in the manufacturing of speakers with immersive sound experiences. It is benefiting from robust demand for its products in the growing global audio market.
The company is looking to tap the growing demand for spatial audio experience with the launch of new speakers. Per a report from Expert Market Research, the global 3D audio market size is expected to witness a CAGR of 16% between 2024 and 2032 and reach $35.81 billion.
The company has launched six new products and services in fiscal 2023, with Move 2 being the most recent product introduction. It is the next-generation version of its Move speaker, unveiled in September 2023. In March 2023, the company also launched two new smart speakers, the Sonos Era 300 and Sonos Era 100.
The company is planning to enter the headphones market by launching a new product priced at approximately $400 by April 2024. Sonos is planning to expand its product portfolio and improve its existing offerings to boost its top-line performance.
The company is also reportedly developing amplifiers, in-ceiling speakers for installers, a high-end TV sound bar and new subwoofers. Also, the company plans to roll out updates to its Roam speaker lineup and launch a business version of its Era 100 speaker. Moreover, the company was upbeat regarding new product launches and expects to generate more than $100 million from new product introductions in fiscal 2024.
SONO currently has a Zacks Rank #3 (Hold). The stock lost 10.1% against the sub-industry’s growth of 9.8% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Woodward (WWD - Free Report) , NETGEAR (NTGR - Free Report) and Watts Water Technologies (WTS - Free Report) . NETGEAR and Woodward sport a Zacks Rank #1 (Strong Buy), while Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Woodward’s 2023 EPS has inched up 6% in the past 60 days to $4.94. WWD’s long-term earnings growth rate is 15.3%.
Woodward’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average surprise being 14.7%. Shares of WWD have gained 31% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days.
NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR have lost 29.5% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 23.2% in the past year.