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Shares of Sonos (NASDAQ:SONO) have now slid over 40% from their February high of $16.88, dramatically more than the S&P 500's ~12% decline. The sharp drop falls well out of line with the current business fundamentals and the company's future prospects. At such a low price, Sonos gives investors a compelling opportunity to buy into a steadily growing, high-quality business at an attractive valuation.
Company Description
Sonos is the inventor of multi-room wireless sound solutions and a leading provider of home audio solutions. Its product list spans from the Move, a waterproof, portable Bluetooth smart-speaker, to the Beam, a smart, compact soundbar with best-in-class sound. All its speakers can be controlled via the Sonos Controller, an intuitive app that supports over one hundred streaming services. Select speakers are also voice-assisted.
With its open-platform speakers, Sonos attracts a broad array of customers who use Spotify, Apple Music, Pandora, Google Play, and TuneIn Radio, to name a few. For those who do not subscribe to any service, Sonos recently launched Sonos Radio (in April 2020), a free, in-app, ad-supported music channel that offers thousands of local radio stations as well as curated playlists for any genre or mood. Sonos Radio - its first service offering - combined with the launch of Move (September 2019) - the company's first foray out of the home - demonstrate Sonos's commitment to expanding and exploring new ways to enhance its customer's listening experience.
Partnerships
Recently, Sonos has partnered with both IKEA and Sonance to produce innovative speakers designed to fit seamlessly
