Sonder (NASDAQ:SOND) Given New $8.00 Price Target at JMP Securities

Sonder (NASDAQ:SONDGet Rating) had its price objective lowered by JMP Securities from $9.00 to $8.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm presently has a “market outperform” rating on the stock.

Several other research firms also recently commented on SOND. Oppenheimer cut their target price 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. The Goldman Sachs Group started coverage on Sonder in a report on Monday, February 14th. They issued a “neutral” rating and a $10.00 price objective for the company. Zacks Investment Research upgraded Sonder from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Thursday, June 2nd. Finally, Citigroup cut their price objective on Sonder from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of 6.30.

SOND stock traded down 0.04 during trading on Friday, reaching 1.74. 7,950 shares of the company were exchanged, compared to its average volume of 715,438. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.93 and a quick ratio of 1.93. The business’s 50-day moving average is 3.35. Sonder has a twelve month low of 1.62 and a twelve month high of 10.88.

Sonder (NASDAQ:SONDGet Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported -0.18 earnings per share for the quarter, topping analysts’ consensus estimates of -0.41 by 0.23. The firm had revenue of 80.47 million for the quarter, compared to the consensus estimate of 75.49 million. On average, equities research analysts anticipate that Sonder will post -0.71 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Sonder in the 1st quarter valued at $156,000. Bank of New York Mellon Corp bought a new position in Sonder during the first quarter worth about $149,000. Ergoteles LLC purchased a new stake in shares of Sonder during the 1st quarter valued at approximately $114,000. Penserra Capital Management LLC purchased a new stake in shares of Sonder during the first quarter worth $67,000. Finally, Mirabella Financial Services LLP purchased a new stake in Sonder during the 1st quarter worth about $54,000.

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.

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