Airbnb (NASDAQ:ABNB) Rating Reiterated by Cantor Fitzgerald

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $94.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential downside of 28.03% from the stock’s current price.

ABNB has been the topic of several other research reports. Truist Financial reduced their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. TD Cowen decreased 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. Wedbush dropped their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Mizuho decreased their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Finally, Piper Sandler cut their price target on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $134.17.

Airbnb Stock Down 0.4 %

Shares of NASDAQ:ABNB traded down $0.57 during midday trading on Monday, reaching $130.61. The company’s stock had a trading volume of 67,392 shares, compared to its average volume of 4,564,980. 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 firm has a market capitalization of $84.12 billion, a P/E ratio of 17.48, a PEG ratio of 1.54 and a beta of 1.16. The firm has a 50 day moving average of $125.60 and a 200-day moving average of $144.63. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10.

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

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the sale, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. The disclosure for this sale can be found here. Insiders have sold 564,624 shares of company stock valued at $77,580,547 in the last ninety days. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Edgewood Management LLC grew its holdings in Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Assenagon Asset Management S.A. raised its position in Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in shares of Airbnb during the 1st quarter worth $265,292,000. Institutional investors and hedge funds 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.