JMP Securities Lowers Sonder (NASDAQ:SOND) Price Target to $3.50

Sonder (NASDAQ:SONDGet Rating) had its price objective lowered by equities research analysts at JMP Securities from $8.00 to $3.50 in a research report issued on Wednesday, The Fly reports. The firm presently has a “market outperform” rating on the stock.

A number of other brokerages have also weighed in 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 note on Friday, March 11th. Citigroup dropped their price objective on shares of Sonder from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, June 10th.

Shares of NASDAQ:SOND opened at 1.30 on Wednesday. Sonder has a 52 week low of 1.22 and a 52 week high of 10.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a fifty day simple moving average of 2.73.

Sonder (NASDAQ:SONDGet Rating) last announced its earnings results on Monday, May 16th. The company reported -0.18 earnings per share for the quarter, beating analysts’ consensus estimates of -0.41 by 0.23. The company had revenue of 80.47 million for the quarter, compared to the consensus estimate of 75.49 million. As a group, equities analysts forecast that Sonder will post -0.59 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of SOND. Mirabella Financial Services LLP purchased a new position in Sonder in the first quarter worth about $54,000. JPMorgan Chase & Co. purchased a new position in Sonder in the first quarter worth about $54,000. Penserra Capital Management LLC purchased a new position in Sonder in the first quarter worth about $67,000. Tuttle Capital Management LLC purchased a new position in Sonder in the first quarter worth about $71,000. Finally, Victory Capital Management Inc. purchased a new position in Sonder in the first quarter worth 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.

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