Cantor Fitzgerald Forecasts Increased Earnings for Airbnb

Airbnb, Inc. (NASDAQ:ABNB) – Investment analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Airbnb in a research note 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 prior 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.

ABNB has been the subject of several other reports. Robert W. Baird boosted their price target on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. UBS Group boosted their price target on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price target on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Phillip Securities reissued a “reduce” rating and issued a $120.00 price target on shares of Airbnb in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.48.

Airbnb Stock Performance

NASDAQ ABNB opened at $129.63 on Thursday. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $82.18 billion, a P/E ratio of 45.48, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a fifty day moving average of $134.98 and a 200-day moving average of $132.80.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABNB. Pacer Advisors Inc. lifted its stake in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Meritage Group LP bought a new position in shares of Airbnb in the third quarter worth approximately $160,985,000. Edgewood Management LLC lifted its stake in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after buying an additional 1,143,464 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Airbnb by 19,430.3% in the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after buying an additional 1,113,747 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after buying an additional 1,109,076 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 955,057 shares of company stock worth $128,033,252. 27.83% of the stock is currently owned by company insiders.

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.