Cantor Fitzgerald Increases Earnings Estimates for Airbnb

Airbnb, Inc. (NASDAQ:ABNB) – Research analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Airbnb in a research report issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the company will post earnings of $3.98 per share for the year, up from their previous estimate of $3.97. Cantor Fitzgerald currently has a “Underweight” rating and a $94.00 target price on the stock. The consensus estimate for Airbnb’s current full-year earnings is $3.99 per share.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the company earned $2.39 EPS.

Other analysts have also recently issued reports about the stock. TD Cowen increased their target price on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lowered their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Piper Sandler raised their price target on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six equities 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, Airbnb has a consensus rating of “Hold” and a consensus price target of $139.48.

Airbnb Stock Performance

ABNB stock opened at $130.80 on Thursday. The stock’s 50 day simple moving average is $135.12 and its 200 day simple moving average is $132.93. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $82.92 billion, a P/E ratio of 45.89, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Edgewood Management LLC raised its holdings in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Airbnb by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Legal & General Group Plc raised its position in Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after acquiring an additional 153,784 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after acquiring an additional 52,358 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $133.51, for a total transaction of $80,106.00. Following the transaction, the chief technology officer now directly owns 193,444 shares in the company, valued at approximately $25,826,708.44. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $137.00, for a total value of $137,000.00. Following the completion of the sale, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at $5,559,597. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 955,057 shares of company stock valued at $128,033,252 in the last quarter. Insiders own 27.83% 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.