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

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $94.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 25.08% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Piper Sandler cut their price objective on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. TD Cowen cut their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Robert W. Baird dropped their target price on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus price target of $134.16.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $125.47 on Monday. The firm has a market cap of $80.81 billion, a PE ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.16. The company has a fifty day moving average price of $122.82 and a 200 day moving average price of $142.74. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that Airbnb will post 4.39 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $130.58, for a total transaction of $78,348.00. Following the sale, the chief technology officer now owns 195,244 shares of the company’s stock, valued at approximately $25,494,961.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $145.88, for a total value of $145,880.00. Following the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total value of $78,348.00. Following the completion of the sale, the chief technology officer now directly owns 195,244 shares in the company, valued at approximately $25,494,961.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 552,389 shares of company stock worth $75,733,256. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Financial Network Inc. ADV bought a new stake in shares of Airbnb in the 4th quarter worth approximately $218,000. Campbell & CO Investment Adviser LLC boosted its position in shares of Airbnb by 72.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 4,044 shares of the company’s stock valued at $551,000 after purchasing an additional 1,695 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Airbnb by 204.0% during the fourth quarter. Jones Financial Companies Lllp now owns 526 shares of the company’s stock valued at $72,000 after purchasing an additional 353 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Airbnb by 1.9% during the fourth quarter. CIBC Asset Management Inc now owns 119,926 shares of the company’s stock valued at $16,327,000 after purchasing an additional 2,188 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Airbnb by 18.4% during the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Company Profile

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.