Sonder (NASDAQ:SOND) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Sonder (NASDAQ:SONDGet Rating) from a buy rating to a hold rating in a report released 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 also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Sonder in a research report on Monday, February 14th. They issued a neutral rating and a $10.00 price target on the stock. Citigroup initiated coverage on shares of Sonder in a research report on Tuesday, April 19th. They issued a buy rating and a $7.00 price target on the stock. Oppenheimer dropped their price target on shares of Sonder from $12.00 to $7.00 and set an outperform rating on the stock in a research report on Friday, March 11th. Finally, JMP Securities lowered their price objective on shares of Sonder from $12.00 to $9.00 and set a market outperform rating for the company in a research note on Thursday, March 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Sonder currently has an average rating of Buy and an average price target of 7.05.

Shares of SOND stock opened at 2.26 on Wednesday. The firm has a 50 day moving average of 3.75. 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 one year low of 1.67 and a one year high of 10.88.

Sonder (NASDAQ:SONDGet Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported -8.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of -0.28 by -8.70. The firm had revenue of 86.66 million for the quarter, compared to analysts’ expectations of 58.50 million. As a group, sell-side analysts anticipate that Sonder will post -0.71 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SOND. Marshall Wace LLP bought a new stake in shares of Sonder in the 4th quarter valued at $8,972,000. Sciencast Management LP bought a new stake in Sonder during the 1st quarter valued at $188,000. Tuttle Capital Management LLC bought a new stake in Sonder during the 1st quarter valued at $71,000. Victory Capital Management Inc. bought a new stake in Sonder during the 1st quarter valued at $113,000. Finally, Principal Financial Group Inc. bought a new stake in Sonder during the 1st quarter valued at $13,094,000.

About Sonder (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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