Cantor Fitzgerald Reiterates Underweight Rating for Airbnb (NASDAQ:ABNB)

Cantor Fitzgerald restated their underweight rating on shares of Airbnb (NASDAQ:ABNB) in a research note published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $94.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lowered their target price on Airbnb from $151.00 to $130.00 and set a market perform rating for the company in a report on Wednesday, August 7th. Benchmark restated a buy rating and issued a $155.00 price objective on shares of Airbnb in a report on Monday, August 26th. Royal Bank of Canada decreased their price objective on Airbnb from $150.00 to $120.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. Truist Financial decreased their price objective on Airbnb from $134.00 to $124.00 and set a hold rating for the company in a report on Wednesday, September 4th. Finally, Jefferies Financial Group decreased their price objective on Airbnb from $125.00 to $120.00 and set a hold rating for the company in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $134.17.

Airbnb Stock Performance

Shares of Airbnb stock opened at $129.03 on Monday. The company has a market capitalization of $83.10 billion, a PE ratio of 17.27, a PEG ratio of 1.54 and a beta of 1.16. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. 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 stock’s fifty day simple moving average is $125.60 and its 200 day simple moving average is $144.49.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, research analysts predict that Airbnb will post 4.39 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the sale, the chief financial officer now directly owns 537,072 shares in the company, valued at approximately $64,448,640. The disclosure for this sale can be found here. Insiders have sold 564,024 shares of company stock valued at $77,491,165 over the last three months. 27.83% of the stock is owned by insiders.

Institutional Trading of Airbnb

Several institutional investors have recently modified their holdings of the business. Joel Isaacson & Co. LLC grew its stake in shares of Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after purchasing an additional 67 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after buying an additional 68 shares during the period. Farrow Financial Inc. lifted its holdings in Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after buying an additional 69 shares during the period. Heritage Wealth Advisors lifted its holdings in Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares during the period. Finally, GYL Financial Synergies LLC lifted its holdings in Airbnb by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after buying an additional 76 shares during the period. Institutional investors 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.