Airbnb’s IPO listing on the Nasdaq marketplace on December 10.
Photographer: Victor J. Blue / Bloomberg
Photographer: Victor J. Blue / Bloomberg
Airbnb Inc. And Door Dash Inc. plunged on Monday after a pair of Wall Street analysts warned that the first day of trading last week had left their market ratings at alarming levels.
Gordon Haskett, a research firm, said in a statement that it was “underestimating the value of the stock since it” was “outstretched” compared to other travel counterparts.
Similarly, D.A. Davidson said the price of the door dash Performance “hiccups” leave little space for next year. The company reduced its rating to neutral from the purchase. Both stocks fell at least 10% on Monday.
Both Airbin and Dor Dash rose on the first day of trading following initial public offerings last week Discussion on pricing and providing the latest sign of stock market development. The Door Dash rose 86% on December 9, topping the Air Force 113% the next day.
Airbnb traded 15 times the 2022 earnings estimate, four times the average for online travel company colleagues, writes Gordon Hasket analyst Robert Mollins.
Analysts of companies subject to IPOs will not release the study until the quiet period ends in January. Of the five analysts overseen by Bloomberg, which includes Airbnb, two have buy ratings, one is BT and two are sales. Tordash has one buy, three hold ratings and no sales.
– With the help of Janet Bryant and Drew Singer
(Starting with the fifth paragraph, the chart adds evaluation and analyst evaluation details)