Sonder (NASDAQ:SOND) Lowered to “Market Perform” at Oppenheimer

Oppenheimer downgraded shares of Sonder (NASDAQ:SOND – Get Rating) from an outperform rating to a market perform rating in a report released on Monday morning, The Fly reports.

A number of other research analysts also recently commented on SOND. Citigroup lowered their price target on shares of Sonder from $3.50 to $2.00 and set a buy rating for the company in a report on Friday, March 3rd. JMP Securities reissued a market outperform rating and issued a $2.75 price objective on shares of Sonder in a research report on Friday, April 14th.

Sonder Stock Down 10.0 %

SOND opened at $0.59 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.26. Sonder has a 52 week low of $0.27 and a 52 week high of $2.77. The firm has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $1.15. The company has a market capitalization of $129.07 million, a PE ratio of -0.49 and a beta of 1.97.

Sonder (NASDAQ:SOND – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Sonder had a negative net margin of 51.65% and a negative return on equity of 4,207.08%. The business had revenue of $134.77 million during the quarter, compared to the consensus estimate of $129.88 million. Analysts forecast that Sonder will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dominique Bourgault acquired 100,000 shares of Sonder stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $0.32 per share, with a total value of $32,000.00. Following the transaction, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at approximately $32,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Francis Davidson bought 29,279 shares of Sonder stock in a transaction dated Thursday, March 9th. The shares were acquired at an average cost of $1.07 per share, with a total value of $31,328.53. Following the completion of the transaction, the chief executive officer now owns 3,444,579 shares in the company, valued at approximately $3,685,699.53. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dominique Bourgault bought 100,000 shares of Sonder stock in a transaction dated Monday, May 15th. The shares were bought at an average cost of $0.32 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $32,000. The disclosure for this purchase can be found here. Insiders have bought 189,188 shares of company stock valued at $117,718 in the last ninety days. 13.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sonder

A number of institutional investors have recently modified their holdings of SOND. JPMorgan Chase & Co. purchased a new position in shares of Sonder during the first quarter worth approximately $54,000. Bank of New York Mellon Corp purchased a new position in shares of Sonder during the first quarter worth approximately $149,000. BlackRock Inc. purchased a new position in Sonder during the first quarter valued at approximately $4,936,000. Vanguard Group Inc. purchased a new position in Sonder during the first quarter valued at approximately $5,353,000. Finally, Ergoteles LLC purchased a new position in Sonder during the first quarter valued at approximately $114,000. 49.22% of the stock is owned by hedge funds and other institutional investors.

Sonder Company Profile

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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.