Sonder (NASDAQ:SOND) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Sonder (NASDAQ:SONDGet Rating) from a hold rating to a sell rating in a report published on Friday, 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 research firms have also issued reports on SOND. Oppenheimer decreased 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. The Goldman Sachs Group assumed 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. Citigroup initiated coverage on shares of Sonder in a research note on Tuesday, April 19th. They issued a buy rating and a $7.00 price objective for the company. Finally, JMP Securities dropped their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sonder has a consensus rating of Hold and a consensus price target of 8.25.

Shares of NASDAQ SOND traded up 0.01 during mid-day trading on Friday, hitting 4.49. The company had a trading volume of 416,600 shares, compared to its average volume of 450,228. Sonder has a 1-year low of 3.91 and a 1-year high of 10.88. The business’s 50-day moving average price is 4.77.

Sonder (NASDAQ:SONDGet Rating) last issued its quarterly earnings data on Wednesday, March 9th. The company reported -8.98 EPS for the quarter, missing analysts’ consensus estimates 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. As a group, sell-side analysts expect that Sonder will post -1.37 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Sonder stock. Sciencast Management LP acquired a new stake in shares of Sonder Holdings Inc. (NASDAQ:SONDGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,695 shares of the company’s stock, valued at approximately $188,000.

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.

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