Cantor Fitzgerald Reaffirms “Underweight” Rating for Airbnb (NASDAQ:ABNB)

Cantor Fitzgerald reaffirmed their underweight rating on shares of Airbnb (NASDAQ:ABNB) in a report released on Wednesday,Benzinga reports. The firm currently has a $100.00 price target on the stock.

Several other equities research analysts have also issued reports on ABNB. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. Baird R W raised Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Benchmark dropped their target price on Airbnb from $178.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. UBS Group reduced their price target on shares of Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler decreased their price target on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.43.

Airbnb Trading Up 0.9%

Shares of Airbnb stock opened at $138.00 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market cap of $87.01 billion, a PE ratio of 33.41, a PEG ratio of 3.52 and a beta of 1.14. The company has a 50 day simple moving average of $121.83 and a two-hundred day simple moving average of $131.26.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the business posted $0.41 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $141.93, for a total transaction of $30,413,470.05. Following the sale, the director now directly owns 428,575 shares of the company’s stock, valued at approximately $60,827,649.75. The trade was a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $161.05, for a total value of $112,735.00. Following the transaction, the chief technology officer now owns 180,514 shares in the company, valued at $29,071,779.70. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,533,331 shares of company stock worth $195,015,055. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MJP Associates Inc. ADV raised its holdings in Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after purchasing an additional 67 shares in the last quarter. CAP Partners LLC boosted its holdings in shares of Airbnb by 3.6% during the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after buying an additional 77 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Airbnb by 1.4% in the 4th quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after buying an additional 78 shares during the period. Ellevest Inc. increased its stake in shares of Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after acquiring an additional 80 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock worth $88,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.