Airbnb’s (ABNB) Underweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their underweight rating on shares of Airbnb (NASDAQ:ABNB) in a research note issued to investors on Monday, Benzinga reports. They currently have a $94.00 price objective on the stock.

A number of other research firms have also recently weighed in on ABNB. UBS Group reduced their price objective on Airbnb from $160.00 to $134.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Wedbush dropped their price target on shares of Airbnb from $165.00 to $135.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. TD Cowen lowered their price objective on Airbnb from $170.00 to $125.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on Airbnb from $130.00 to $111.00 and set a sell rating on the stock in a report on Thursday, August 8th. Finally, 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 report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $134.17.

Airbnb Stock Performance

Shares of ABNB stock opened at $130.71 on Monday. The company has a fifty day moving average price of $124.50 and a two-hundred day moving average price of $143.92. Airbnb has a one year low of $110.38 and a one year high of $170.10. The stock has a market cap of $83.87 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

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

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares in the company, valued at $64,448,640. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 552,389 shares of company stock worth $75,745,682. 27.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Joel Isaacson & Co. LLC raised its position in 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 acquiring an additional 67 shares during the period. Miracle Mile Advisors LLC increased its holdings in Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after acquiring an additional 68 shares during the last quarter. Farrow Financial Inc. raised its stake in Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares during the period. Heritage Wealth Advisors lifted its holdings in Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Finally, GYL Financial Synergies LLC boosted its position in Airbnb by 5.0% during the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares during the period. 80.76% of the stock is owned by institutional investors.

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.