Zacks Investment Research Lowers Sonder (NASDAQ:SOND) to Hold

Zacks Investment Research downgraded shares of Sonder (NASDAQ:SONDGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Sonder Holdings Inc. is a next-generation hospitality company which is redefining the guest experience through technology and design. Sonder Holdings Inc., formerly known as Gores Metropoulos II Inc., is based in SAN FRANCISCO. “

Other research analysts have also issued reports about the company. JMP Securities decreased their price objective on Sonder from $12.00 to $9.00 and set a market outperform rating on the stock in a report on Thursday, March 10th. Citigroup initiated coverage on Sonder in a report on Tuesday, April 19th. They issued a buy rating and a $7.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Sonder in a report on Monday, February 14th. They issued a neutral rating and a $10.00 price objective on the stock. Finally, Oppenheimer decreased their price objective on Sonder from $12.00 to $7.00 and set an outperform rating on the stock in a report on Friday, March 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of 7.05.

SOND stock opened at 2.26 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 0.04 and a debt-to-equity ratio of 1.16. Sonder has a 1-year low of 1.67 and a 1-year high of 10.88. The business’s 50 day simple moving average is 3.75.

Sonder (NASDAQ:SONDGet Rating) last posted its earnings results on Wednesday, March 9th. The company reported -8.98 earnings per share for the quarter, missing analysts’ consensus estimates of -0.28 by -8.70. The company had revenue of 86.66 million during the quarter, compared to analyst estimates of 58.50 million. Equities analysts forecast that Sonder will post -0.71 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP acquired a new stake in shares of Sonder during the 1st quarter worth $54,000. JPMorgan Chase & Co. bought a new stake in shares of Sonder during the 1st quarter worth $54,000. Penserra Capital Management LLC bought a new stake in shares of Sonder during the 1st quarter worth $67,000. Tuttle Capital Management LLC bought a new stake in shares of Sonder during the 1st quarter worth $71,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Sonder during the 1st quarter worth $113,000.

Sonder Company Profile (Get Rating)

Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and professionals in North America, Europe, and the Middle East. As of December 31, 2021, it had approximately 7,600 live units across 38 markets and 10 countries, as well as approximately 10,500 additional contracted units.

Further Reading

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