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

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $94.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 29.06% from the stock’s previous close.

ABNB has been the topic of several other reports. Susquehanna dropped their price objective on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. Barclays reduced their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Mizuho lowered their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Morgan Stanley lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets dropped their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $134.23.

Airbnb Stock Up 1.7 %

ABNB stock opened at $132.50 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $121.76 and a 200 day moving average of $141.72. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market cap of $85.34 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Airbnb will post 4.39 EPS for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 562,896 shares of company stock valued at $74,184,724 in the last 90 days. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in shares of Airbnb in the 1st quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in Airbnb during the fourth quarter worth $27,000. New Millennium Group LLC bought a new position in Airbnb during the second quarter valued at $28,000. Vima LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at $29,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Airbnb in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.