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Sonos (SONO) Unveils Two Smart Speakers: Major Highlights

Sonos SONO recently rolled out two new smart speakers, the Sonos Era 300 and Sonos Era 100. The Sonos Era 300 and 100 are priced at $449 and $249, respectively, and will be available globally on Mar 28, 2023.

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, the company's best-selling model. Both speakers are designed with a focus on sound innovation, responsible design and a commitment to the creator community.

The Era 300 is the first speaker from Sonos to offer multi-channel surround sound and boasts six powerful drivers that direct sound in various directions, creating an immersive audio performance with Dolby Atmos, noted the company. The company has worked closely with leading artists and creators, including Soundboard members, to fine-tune the Era 300 and provide an immersive audio experience.

Sonos, Inc. Price and Consensus

Sonos, Inc. Price and Consensus
Sonos, Inc. Price and Consensus

Sonos, Inc. price-consensus-chart | Sonos, Inc. Quote

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The Era 100 is slightly larger than the Sonos One and features the latest hardware and software, with next-generation acoustics and design that provides its users with detailed stereo sound and deep bass. It can be paired with another Era 100 speaker to create “room-filling stereo sound” or used as a rear with a soundbar to create a surround sound system.

The company wants to tap the growing demand for spatial audio experience with the launch of the Sonos Era 300 and 100. Per a report from Fortune Business Insights, the global 3D audio market size was $3.80 billion in 2018 and is expected to reach $12.97 billion by 2026, at a CAGR of 16.9%.

The Era 300 and Era 100 are also the first speakers built to Sonos’ new responsible design standards, prioritizing long-term serviceability, energy-efficient technologies and using post-consumer recycled (PCR) materials.

Both speakers are made with PCR plastic and packaged in 100% sustainably sourced paper. They are also engineered to reduce power consumption with under two watts of idle power consumption and a new advanced sleep function.

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.

The company currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 16.4% compared with the sub-industry’s decline of 9.4% in the past year.

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Stocks to Consider

Some better-ranked stocks in the broader technology space are Arista Networks ANET, Perion Network PERI and Pegasystems PEGA, each presently sporting 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 Arista Networks 2023 earnings is pegged at $5.79 per share, rising 11.5% in the past 60 days. 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 22.9% in the past year.

The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.

Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 76.4% in the past year.

The Zacks Consensus Estimate for Pegasystems 2023 earnings is pegged at $1.31 per share, rising 111.3% in the past 60 days.

Pegasystems earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 40% in the past year.

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Sonos, Inc. (SONO) : Free Stock Analysis Report

Perion Network Ltd (PERI) : Free Stock Analysis Report

Pegasystems Inc. (PEGA) : Free Stock Analysis Report

Arista Networks, Inc. (ANET) : Free Stock Analysis Report

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