Airbnb (NASDAQ:ABNB) Now Covered by Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of Airbnb (NASDAQ:ABNB) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set an “underweight” rating and a $94.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 17.75% from the company’s current price.

ABNB has been the subject of a number of other reports. Truist Financial lowered their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday. Argus cut shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday. HSBC lowered shares of Airbnb from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $160.00 to $156.00 in a report on Thursday, May 9th. Jefferies Financial Group dropped their target price on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Barclays decreased their price target on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $134.48.

Airbnb Price Performance

Airbnb stock opened at $114.28 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $131.77 and a 200 day moving average price of $147.03. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The stock has a market cap of $73.60 billion, a P/E ratio of 15.30, a PEG ratio of 1.55 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released 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). The firm 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Sell-side analysts anticipate that Airbnb will post 4.43 earnings per share for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb 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 owns 198,244 shares in the company, valued at $23,579,141.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 80,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the completion of the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 612,907 shares of company stock worth $91,473,471. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several hedge funds have recently made changes to their positions in ABNB. Transcendent Capital Group LLC acquired a new position in Airbnb during the 1st quarter worth approximately $25,000. Trust Co. of Vermont acquired a new stake in Airbnb in the fourth quarter valued at $27,000. New Millennium Group LLC purchased a new stake in shares of Airbnb during the 2nd quarter worth $28,000. Vima LLC acquired a new position in shares of Airbnb during the 4th quarter worth $29,000. Finally, Cultivar Capital Inc. purchased a new position in shares of Airbnb in the 2nd quarter valued at about $30,000. 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.