Cantor Fitzgerald Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price objective reduced by equities research analysts at Cantor Fitzgerald from $130.00 to $101.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential downside of 10.48% from the company’s previous close.

Several other research analysts have also recently weighed in on ABNB. Benchmark upped their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Truist Financial reduced their target price on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a report on Friday, March 21st. Evercore ISI lifted their price target on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, April 7th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $146.78.

Airbnb Stock Down 1.6 %

Shares of NASDAQ:ABNB traded down $1.81 during trading on Wednesday, hitting $112.83. 2,699,323 shares of the company’s stock traded hands, compared to its average volume of 4,747,414. The company has a 50-day moving average price of $130.52 and a 200-day moving average price of $132.63. Airbnb has a 52 week low of $99.88 and a 52 week high of $166.74. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a market cap of $71.14 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, research analysts forecast that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the sale, the director now directly owns 2,294,870 shares in the company, valued at $249,590,061.20. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total value of $94,829.00. Following the transaction, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at $24,833,547.58. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,036,607 shares of company stock worth $280,762,098. 27.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several hedge funds and other institutional investors have recently made changes to their positions in ABNB. Norges Bank bought a new stake in shares of Airbnb during the fourth quarter worth $433,374,000. Clearbridge Investments LLC increased its holdings in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after purchasing an additional 1,185,892 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Airbnb by 119.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock valued at $179,991,000 after buying an additional 820,887 shares during the last quarter. 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.