Cantor Fitzgerald Expects Increased Earnings for Airbnb

Airbnb, Inc. (NASDAQ:ABNB) – Analysts at Cantor Fitzgerald raised their FY2024 earnings estimates for Airbnb in a research report issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now expects that the company will post earnings per share of $3.98 for the year, up from their prior forecast 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.

A number of other equities research analysts also recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Airbnb in a research report on Monday, December 16th. Truist Financial decreased their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Wedbush lifted their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Bank of America increased their price objective on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.48.

Airbnb Stock Performance

NASDAQ ABNB opened at $130.80 on Thursday. The company’s fifty day moving average is $135.12 and its two-hundred day moving average is $132.93. 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 current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $82.92 billion, a price-to-earnings ratio of 45.89, a P/E/G ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its earnings results 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 net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business earned $2.39 EPS.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 76,923 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the sale, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at $1,765,525,022. This represents a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now directly owns 40,581 shares in the company, valued at $5,559,597. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 955,057 shares of company stock worth $128,033,252. Insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Airbnb in the third quarter worth about $34,982,000. Tri Ri Asset Management Corp bought a new stake in Airbnb during the 3rd quarter worth approximately $6,352,000. J.W. Cole Advisors Inc. increased its stake in Airbnb by 86.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after purchasing an additional 2,132 shares in the last quarter. Shellback Capital LP acquired a new stake in Airbnb during the 2nd quarter worth approximately $22,744,000. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in Airbnb by 1,231.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after buying an additional 19,183 shares in the last quarter. 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.