Airbnb (NASDAQ:ABNB) Stock Rating Reaffirmed by Cantor Fitzgerald

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $94.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential downside of 28.51% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets dropped their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company cut their target price on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Mizuho dropped their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. reduced their target price on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley dropped their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $134.17.

Airbnb Trading Up 1.9 %

ABNB opened at $131.48 on Monday. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a market cap of $84.68 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50 day simple moving average of $125.24 and a 200 day simple moving average of $144.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results 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). The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts anticipate that Airbnb will post 4.39 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the sale, the chief accounting officer now directly owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $151.95, for a total value of $17,532,750.75. Following the completion of the sale, the chief executive officer now owns 13,914,302 shares of the company’s stock, valued at approximately $2,114,278,188.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the completion of the sale, the chief accounting officer now owns 44,043 shares in the company, valued at $6,424,992.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 564,024 shares of company stock worth $77,491,165. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Several hedge funds have recently made changes to their positions in ABNB. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the first quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of Airbnb during the 4th quarter valued at about $27,000. New Millennium Group LLC purchased a new position in shares of Airbnb during the second quarter worth about $28,000. Vima LLC purchased a new position in shares of Airbnb during the fourth quarter worth about $29,000. Finally, Cultivar Capital Inc. bought a new position in shares of Airbnb in the second quarter worth approximately $30,000. 80.76% of the stock is currently owned by hedge funds and other 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.