Why Sonos Stock Zoomed 14% Higher This Week

An estimates-crushing quarter and a clutch of analyst price-target hikes were the rockets that propelled Sonos (SONO 0.60%) stock into the heavens this week. Across the five trading days, the next-generation audio equipment maker saw its share price rise by more than 14%, according to data compiled by S&P Global Market Intelligence.Sonos blew past the bottom-line consensus estimateFor the first quarter of its fiscal 2024, Sonos revealed on Wednesday the company earned revenue of slightly under $613 million. ...