5 Most Important Stock Analyst Ratings to Watch

4. Sonos, Inc. (NASDAQ:SONO)

Number of Hedge Fund Holders: 30

Morgan Stanley downgraded Sonos, Inc. (NASDAQ:SONO) from “Overweight” to “Equal Weight” and cut its price target for the maker of the audio products from $38 per share to $28 per share.

Morgan Stanley analyst Katy Huberty said the spending intentions of high-end consumers have started to wane, with overall consumer confidence at a decade low and inflation at a 40-year high. Referring to a survey, Huberty said most respondents expect to limit spending in the coming months due to inflationary pressures.