Citigroup slashes price target on Sonder Holdings Inc. [SOND] – find out why.

Sonder Holdings Inc. [NASDAQ: SOND] plunged by -$0.01 during the normal trading session on Friday and reaching a high of $1.97 during the day while it closed the day at $1.87. The company report on September 12, 2022 that Sonder Holdings Inc. Appoints Travel Executive Michelle Frymire to Board of Directors.

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Sonder Holdings Inc. (“Sonder,” NASDAQ: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today changes to the Company’s Board of Directors, including the appointment of Michelle Frymire.

A seasoned travel sector executive, Ms. Frymire has served as Chief Executive Officer of CWT, one of the world’s largest travel management platforms providing business travel, meetings, and event management for some of the world’s biggest global companies. Prior to serving as CEO, Ms. Frymire was President and CFO, responsible for driving global business strategy and transformation by building an integrated and collaborative approach to business support and change across CWT. She was also appointed to the United States Travel and Tourism Advisory Board to provide advice and counsel on issues that affect the U.S. travel and tourism industry.

Sonder Holdings Inc. stock has also loss -22.73% of its value over the past 7 days. However, SOND stock has inclined by 46.09% in the 3 months of the year. Over the past six months meanwhile, it has lost -59.44% and lost -81.24% year-on date.

The market cap for SOND stock reached $408.80 million, with 215.09 million shares outstanding and 157.35 million shares in the current float. Compared to the average trading volume of 1.79M shares, SOND reached a trading volume of 17335004 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Sonder Holdings Inc. [SOND]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOND shares is $3.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOND stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Sonder Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 20, 2022.

The Average True Range (ATR) for Sonder Holdings Inc. is set at 0.31, with the Price to Sales ratio for SOND stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 1.64.

SOND stock trade performance evaluation

Sonder Holdings Inc. [SOND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.73. With this latest performance, SOND shares dropped by -0.53% in over the last four-week period, additionally sinking by -59.44% over the last 6 months – not to mention a drop of -81.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOND stock in for the last two-week period is set at 47.10, with the RSI for the last a single of trading hit 42.99, and the three-weeks RSI is set at 48.83 for Sonder Holdings Inc. [SOND]. The present Moving Average for the last 50 days of trading for this stock 1.7119, while it was recorded at 2.0460 for the last single week of trading, and 4.6444 for the last 200 days.

Sonder Holdings Inc. [SOND]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -5.29, with Return on Assets sitting at -4.68.

Sonder Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Sonder Holdings Inc. [SOND]: Insider Ownership positions

There are presently around $171 million, or 48.60% of SOND stock, in the hands of institutional investors. The top three institutional holders of SOND stocks are: FMR LLC with ownership of 17,085,166, which is approximately -4.796% of the company’s market cap and around 27.64% of the total institutional ownership; GREENOAKS CAPITAL PARTNERS LLC, holding 15,861,640 shares of the stock with an approximate value of $29.66 million in SOND stocks shares; and VALOR MANAGEMENT LLC, currently with $17.81 million in SOND stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Sonder Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 50 institutional holders increased their position in Sonder Holdings Inc. [NASDAQ:SOND] by around 11,569,694 shares. Additionally, 31 investors decreased positions by around 7,016,342 shares, while 11 investors held positions by with 72,678,012 shares. The mentioned changes placed institutional holdings at 91,264,048 shares, according to the latest SEC report filing. SOND stock had 32 new institutional investments in for a total of 5,580,536 shares, while 19 institutional investors sold positions of 1,652,504 shares during the same period.


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