Sonder (NASDAQ:SOND) PT Lowered to $2.00

Posted by on Mar 5th, 2023

Sonder (NASDAQ:SOND – Get Rating) had its target price reduced by equities research analysts at Citigroup from $3.50 to $2.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 104.50% from the company’s current price.

Separately, JMP Securities restated a “market outperform” rating and set a $2.75 price target on shares of Sonder in a research report on Thursday.

Sonder Price Performance

SOND opened at $0.98 on Friday. The firm has a market cap of $213.26 million, a P/E ratio of -1.00 and a beta of 2.16. The firm has a 50-day moving average of $1.29 and a 200 day moving average of $1.65. The company has a debt-to-equity ratio of 4.26, a quick ratio of 1.43 and a current ratio of 1.43. Sonder has a fifty-two week low of $0.86 and a fifty-two week high of $5.46.

Institutional Investors Weigh In On Sonder

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Sonder during the first quarter valued at about $54,000. Mirabella Financial Services LLP purchased a new stake in Sonder during the first quarter valued at about $54,000. Penserra Capital Management LLC purchased a new stake in Sonder during the first quarter valued at about $67,000. Tower Research Capital LLC TRC lifted its holdings in Sonder by 189.4% during the third quarter. Tower Research Capital LLC TRC now owns 15,829 shares of the company’s stock valued at $26,000 after purchasing an additional 10,359 shares during the last quarter. Finally, Waddell & Associates LLC purchased a new stake in Sonder during the third quarter valued at about $34,000. 49.22% of the stock is owned by hedge funds and other institutional investors.

About Sonder

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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.

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