Sonder (NASDAQ:SOND) Downgraded by Zacks Investment Research to Sell

Sonder (NASDAQ:SONDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday, 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. “

SOND has been the subject of a number of other reports. JMP Securities cut their target price on Sonder from $12.00 to $9.00 and set a “market outperform” rating for the company in a research note on Thursday, March 10th. The Goldman Sachs Group assumed coverage on Sonder in a research note on Monday, February 14th. They set a “neutral” rating and a $10.00 price objective for the company. Citigroup began coverage on Sonder in a research note on Tuesday. They set a “buy” rating and a $7.00 price objective for the company. Finally, Oppenheimer lowered their target price on Sonder from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of 8.25.

SOND opened at 4.15 on Friday. Sonder has a 1-year low of 4.05 and a 1-year high of 10.88. The company has a 50 day simple moving average of 5.04.

Sonder (NASDAQ:SONDGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported -8.98 earnings per share for the quarter, missing the consensus estimate of -0.28 by -8.70. The firm had revenue of 86.66 million during the quarter, compared to the consensus estimate of 58.50 million. On average, sell-side analysts anticipate that Sonder will post -1.37 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Sonder stock. Marshall Wace LLP bought a new position in shares of Sonder Holdings Inc. (NASDAQ:SONDGet Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 899,963 shares of the company’s stock, valued at approximately $8,972,000. Marshall Wace LLP owned 1.60% of Sonder at the end of the most recent quarter.

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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