Airbnb (NASDAQ:ABNB) Given “Underweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their underweight rating on shares of Airbnb (NASDAQ:ABNB) in a research note published on Monday, Benzinga reports. The firm currently has a $94.00 price target on the stock.

A number of other research firms also recently commented on ABNB. Piper Sandler decreased their price objective on shares of Airbnb from $155.00 to $125.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a hold rating on shares of Airbnb in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on Airbnb from $150.00 to $120.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on Airbnb from $130.00 to $111.00 and set a sell rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen cut their price target on Airbnb from $170.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $134.23.

Airbnb Trading Down 2.0 %

Shares of Airbnb stock opened at $132.81 on Monday. The firm has a market cap of $85.54 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The company’s 50-day simple moving average is $121.50 and its 200-day simple moving average is $141.37. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted 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 business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Airbnb will post 4.39 earnings per share for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $128.42, for a total value of $802,625.00. Following the sale, the chief financial officer now directly owns 530,822 shares in the company, valued at approximately $68,168,161.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 563,496 shares of company stock valued at $74,262,814. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in shares of Airbnb during the first quarter worth about $25,000. Trust Co. of Vermont bought a new position in Airbnb during the fourth quarter worth $27,000. New Millennium Group LLC acquired a new position in Airbnb in the second quarter worth $28,000. Vima LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $29,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Airbnb in the 2nd quarter valued at about $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

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.