Yahoo Finance Sonos (SONO) Forays in the Headphone Market With Sonos Ace
Sonos SONO unveiled its first headphone — the Sonos Ace — to expand its footprint in the personal audio market. The Sonos Ace will be available globally in Black and Soft White from Jun 5, 2024, and will retail for $449, added the company.
The Sonos Ace is an over-the-ear Bluetooth headphone that features Active Noise Cancelation and Aware Mode, as well as a home theater experience enhanced by Sonos' new TrueCinema technology.
The headphone features custom drivers that deliver precise and clear audio across all frequencies. Also, customers can transform their home theater, which allows seamless audio transfer from a compatible Sonos soundbar.
Sonos, Inc. Price and Consensus
Sonos, Inc. price-consensus-chart | Sonos, Inc. Quote
The company further added that the headphones have a battery life of up to 30 hours and a quick three-minute charge with three hours of playtime. The headphones are easy to wear and store, with intuitive controls and a fold-flat design for portability.
Per a report from Grand View Research, the global earphones and headphones market size was valued at $71,496.7 million in 2023 and is projected to witness a CAGR of 12.6% from 2023 to 2030. The industry is likely to benefit from increased adoption of wireless technologies such as bluetooth, augmented reality, and virtual reality, added the report.
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.
In January, the company 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.
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 #5 (Strong Sell). The stock gained 9.4% against the sub-industry’s decline of 13.5% in the past year.
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Stocks to Consider
Some better-ranked stocks from the broader technology space are Woodward WWD, Arista Networks ANET and Super Micro Computer SMCI. Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Woodward’s fiscal 2024 earnings per share (EPS) has moved up 11.1% in the past 60 days to $5.86. WWD’s long-term earnings growth rate is 16.3%.
Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 26.1%. WWD shares have risen 62% in the past year.
The Zacks Consensus Estimate for ANET’s 2024 EPS has increased 6.2% in the past 60 days to $7.92. ANET’s long-term earnings growth rate is 15.7%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 15.4%. Shares of ANET have gained 127.3% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2024 EPS has improved 8.3% in the past 60 days to $23.51. SMCI’s long-term earnings growth rate is 52.3%.
SMCI’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.9%. Shares of SMCI have risen 481% in the past year.
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