Airbnb (NASDAQ:ABNB) Receives Underweight Rating from Cantor Fitzgerald

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating reiterated by analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $94.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential downside of 28.03% from the stock’s previous close.

A number of other research firms have also recently commented on ABNB. UBS Group dropped their price objective on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird reduced their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. B. Riley decreased 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler cut their price target on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.17.

Airbnb Price Performance

ABNB stock traded down $0.57 during midday trading on Monday, hitting $130.61. 67,392 shares of the stock were exchanged, compared to its average volume of 4,564,980. The stock’s 50-day moving average price is $125.60 and its 200-day moving average price is $144.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $84.12 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.54 and a beta of 1.16. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data 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 return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Airbnb’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts predict that Airbnb will post 4.39 earnings per share for the current year.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares in the company, valued at $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $150.02, for a total transaction of $1,745,482.70. Following the completion of the transaction, the director now directly owns 30,435 shares of the company’s stock, valued at $4,565,858.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,624 shares of company stock valued at $77,580,547. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the period. Edgewood Management LLC increased its stake in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of 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 valued at $256,784,000 after purchasing an additional 1,684,646 shares during the period. Finally, Farallon Capital Management LLC bought a new stake in shares of Airbnb during the first quarter valued at approximately $265,292,000. 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.