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

Airbnb (NASDAQ:ABNB)‘s stock had its “underweight” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They presently have a $100.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 26.90% from the company’s current price.

A number of other analysts have also recently issued reports on ABNB. Evercore ISI decreased their target price on Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. B. Riley reduced their price objective on Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Wednesday. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada reduced their price objective on Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.43.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $136.79 on Wednesday. The company has a market cap of $86.25 billion, a P/E ratio of 33.12, a P/E/G ratio of 3.52 and a beta of 1.14. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93. The business has a fifty day simple moving average of $121.58 and a 200-day simple moving average of $131.26.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Airbnb will post 4.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $160.32, for a total value of $18,498,523.20. Following the completion of the transaction, the chief executive officer now directly owns 11,885,528 shares of the company’s stock, valued at $1,905,487,848.96. This represents a 0.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $161.05, for a total value of $112,735.00. Following the completion of the transaction, the chief technology officer now directly owns 180,514 shares of the company’s stock, valued at $29,071,779.70. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,533,331 shares of company stock valued at $195,015,055 in the last quarter. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Airbnb in the fourth quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at $26,000. Park Square Financial Group LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at $28,000. Finally, Stonebridge Financial Group LLC increased its stake in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.