Yahoo Finance Sonos (SONO) Launches Subscription-Based Sonos Pro in US
Sonos SONO has introduced a new software as a service offering called Sonos Pro, a subscription-based product that helps businesses deliver superior sound across all locations. Sonos Pro is now available in the United States for $35 per month per location.
The service offers commercially licensed music, individualized support and a simple web-based dashboard to remotely control a system across several locations. It also works seamlessly with existing Sonos hardware to provide immersive sound. Businesses may use it to schedule playlists, set administrator permissions, grant access to vetted staff members and get premium assistance from anywhere.
Sonos highlighted that the company is witnessing substantial organic growth in commercial spaces as businesses invest in sound solutions to engage customers’ return to physical retail venues and restaurants. The company created Sonos Pro to satisfy the needs of companies by offering a straightforward solution after evaluating numerous features in hundreds of commercial sites, added the company.
Sonos, Inc. Price and Consensus
Sonos, Inc. price-consensus-chart | Sonos, Inc. Quote
Sonos Pro grants users’ access to Sonos Backgrounds, a commercially licensed music service with a selection of songs by independent artists. Additionally, companies can use third-party streaming services, like Mood Mix, Soundtrack Your Brand or Rockbot, to engage clients.
Sonos operates as a consumer electronics company primarily involved in manufacturing smart speakers with immersive sound experiences. The company is likely to benefit from secular growth trends in the global audio and video market.
In March, the company rolled out two new smart speakers, the Sonos Era 300 and Sonos Era 100. The Era 300 is designed to deliver an immersive spatial audio experience with Dolby Atmos, while the Era 100 is an update of the Sonos One. Both speakers are designed with a focus on sound innovation, responsible design and a commitment to the creator community.
Prior to that, the company announced the launch of Sonos Voice Control for its French-speaking audience through an update of its application. Sonos Voice Control allows its users to fully control the music using only their voice. It can be paired with any Sonos speaker, Sonos Radio, Apple Music, Amazon Music or Deezer.
The company currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 19.4% against the sub-industry’s growth of 1.4% in the past year.
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Stocks to Consider
Some better-ranked stocks in the broader technology space are Arista Networks ANET, Asure Software ASUR and Salesforce CRM. Asure Software and Salesforce currently sport a Zacks Rank #1 (Strong Buy), whereas Arista Networks 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 Arista Networks’ 2023 earnings has increased 1.2% in the past 60 days to $5.83 per share. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 26.9% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings has increased 25% in the past 60 days to 35 cents per share. The long-term earnings growth rate is anticipated to be 25%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 445.8%. Shares of ASUR have increased 187.8% in the past year.
The Zacks Consensus Estimate for Salesforce’s 2023 earnings has increased 21.5% in the past 60 days to $7.11 per share. The long-term earnings growth rate is anticipated to be 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 15.6%. Shares of the company have increased 3% in the past year.
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