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

Sonder (NASDAQ:SONDGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “

Several other brokerages also recently commented on SOND. Citigroup began coverage on Sonder in a report on Tuesday, April 19th. They set a “buy” rating and a $7.00 target price for the company. Oppenheimer decreased their target price on shares of Sonder from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, March 11th. JMP Securities cut their price target on shares of Sonder from $12.00 to $9.00 and set a “market outperform” rating on the stock in a report on Thursday, March 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Sonder in a research note on Monday, February 14th. They issued a “neutral” rating and a $10.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of 7.05.

NASDAQ SOND opened at 2.25 on Wednesday. Sonder has a 12 month low of 1.67 and a 12 month high of 10.88. The stock has a 50 day simple moving average of 3.65. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.93 and a current ratio of 1.93.

Sonder (NASDAQ:SONDGet Rating) last posted its quarterly earnings results on Wednesday, March 9th. The company reported -8.98 earnings per share (EPS) for the quarter, missing the consensus estimate of -0.28 by -8.70. The business had revenue of 86.66 million for the quarter, compared to analysts’ expectations of 58.50 million. On average, research analysts expect that Sonder will post -0.71 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in SOND. Mirabella Financial Services LLP acquired a new position in Sonder in the 1st quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new stake in shares of Sonder during the first quarter worth $54,000. Penserra Capital Management LLC purchased a new stake in shares of Sonder during the first quarter worth $67,000. Tuttle Capital Management LLC acquired a new stake in Sonder during the first quarter valued at $71,000. Finally, Victory Capital Management Inc. purchased a new position in Sonder in the first quarter valued at about $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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