Airbnb (ABNB, $129.26) shares got downgraded at Gordon Haskett.
Airbnb got a rating cut from analysts at Gordon Haskett.
The vacation rental online marketplace was downgraded to underperform from buy . A $103 price target represented a 26% downside from the stock's closing price on Friday of $139.25.
"An overwhelming majority of investors we’ve spoken with have been unable to justify Airbnb’s valuation premium relative to OTAs and expressed interest in realizing their quick gains," said analyst Robert Mollins. "Investors that we’ve spoken with like Airbnb’s business model and want to be long-term holders, but are now looking at selling the stock because they no longer feel comfortable owning it trading at a 300-400% valuation premium to OTAs."
According to Mollins, Airbnb’s valuation is "more than stretched" compared to other stocks in the online travel category.
But Gordon Hasketn analysts think that said Airbnb's IPO was well timed, allowing investors to get a piece of the company when its gross book volume was low due to the coronavirus pandemic.
ABNB's Stochastic Oscillator dives oversold zone
The Stochastic Oscillator for ABNB moved into oversold territory on July 25, 2024. Be on the watch for the price uptrend or consolidation in the future. At that time, consider buying the stock or exploring call options.
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Notable companies
The most notable companies in this group are Booking Holdings (NASDAQ:BKNG), Royal Caribbean Group (NYSE:RCL), Trip.com Group Limited (NASDAQ:TCOM), Carnival Corp (NYSE:CCL), Expedia Group (NASDAQ:EXPE), WW International (NASDAQ:WW).
Industry description
Other consumer services include companies that provide consumer services, and are not classified elsewhere. Travel fare aggregators, hotel bookings, consumer-to-consumer or business-to-business sales platforms are some examples of services that can be clubbed into this category. Many of such services have expanded online. Booking Holdings Inc, The Priceline Group Inc, and eBay Inc. are some major operators in this segment.
Market Cap
The average market capitalization across the Other Consumer Services Industry is 8.77B. The market cap for tickers in the group ranges from 158.6K to 121.92B. BKNG holds the highest valuation in this group at 121.92B. The lowest valued company is PRXIQ at 158.6K.
High and low price notable news
The average weekly price growth across all stocks in the Other Consumer Services Industry was -2%. For the same Industry, the average monthly price growth was 9%, and the average quarterly price growth was 4%. RGS experienced the highest price growth at 50%, while IVP experienced the biggest fall at -55%.
Volume
The average weekly volume growth across all stocks in the Other Consumer Services Industry was 43%. For the same stocks of the Industry, the average monthly volume growth was -54% and the average quarterly volume growth was 4%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 59
P/E Growth Rating: 77
Price Growth Rating: 55
SMR Rating: 71
Profit Risk Rating: 88
Seasonality Score: 3 (-100 ... +100)