Sonder (NASDAQ: SOND) Giving New $3.50 Price Target at JMP Securities

Sonder (NASDAQ: SOND – Get Rating) Equity researchers at JMP Securities lowered its price target from $8.00 to $3.50 in a research report released to clients and investors on Wednesday, according to a report by Fly.

SOND has been the subject of a number of other research reports. Oppenheimer lowered its price target for Sonder’s stock from $12.00 to $7.00 and placed an “outstanding” rating on the stock in a report on Friday, March 11th. Citigroup cut its price target on shares of Sonder from $6.00 to $4.00 and assigns a “buy” rating to the stock in a report on Friday, June 10th.

SOND shares opened at 1.34 on Wednesday. The company has a quick ratio of 1.93, a trading ratio of 1.93 and a debt-to-equity ratio of 1.16. Sonder recorded a one-year low of 1.26 and a one-year high of 10.88. The business has a 50 day moving average of 2.86.

Sonder (NASDAQ: SOND – Get Rating) released its latest quarterly earnings results on Monday, May 16. The company reported earnings per share (EPS) of -0.18 for the quarter, beating analyst expectations of -0.41 by 0.23. The company generated $80.47 million in revenue during the quarter, compared to analyst expectations of $75.49 million. Sell-side analysts expect Sonder to post -0.59 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE bought a new stake in Sonder in the first quarter valued at approximately $424,000. HarbourVest Partners LLC bought a new stake in Sonder during the first quarter valued at approximately $21,386,000. Virtu Financial LLC acquired a new stake in Sonder in the first quarter valued at approximately $156,000. Mirabella Financial Services LLP bought a new position in Sonder during the first quarter valued at $54,000. Finally, Jane Street Group LLC acquired a new stake in Sonder in the first quarter valued at $282 thousand.

About Sonder (Get Rating)

Sonder Holdings Inc operates in the hospitality business. operates and manages one, two and three bedroom properties; and studio apartments, as well as one-bedroom hotel rooms for leisure travelers, 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 in 38 markets and 10 countries, with an additional approximately 10,500 units on contract.

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