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

Airbnb (NASDAQ:ABNB) had its price target lowered by Cantor Fitzgerald from $130.00 to $101.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential downside of 10.48% from the stock’s current price.

Several other brokerages also recently commented on ABNB. Baird R W upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Susquehanna lifted their price objective on Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Finally, Bank of America increased their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $146.78.

Airbnb Stock Down 1.6 %

Shares of ABNB traded down $1.81 during mid-day trading on Wednesday, hitting $112.83. 2,699,323 shares of the company’s stock were exchanged, compared to its average volume of 4,747,414. 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 twelve month low of $99.88 and a twelve month high of $166.74. The firm has a fifty day moving average of $130.52 and a two-hundred day moving average of $132.63. The stock has a market cap of $71.14 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. On average, sell-side analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $135.47, for a total value of $94,829.00. Following the completion of the transaction, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at approximately $24,833,547.58. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 38,461 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now directly owns 12,460,447 shares in the company, valued at $1,659,606,935.93. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,036,607 shares of company stock worth $280,762,098. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after acquiring an additional 72,991 shares during the period. Clearbridge Investments LLC grew its position in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after buying an additional 2,590,475 shares during the period. Northern Trust Corp raised its stake in shares of Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock worth $564,647,000 after buying an additional 331,607 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Airbnb by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after acquiring an additional 558,856 shares during the last quarter. Finally, Norges Bank acquired a new stake in Airbnb during the 4th quarter worth $433,374,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.