Airbnb (NASDAQ:ABNB) Given New $170.00 Price Target at TD Cowen

Airbnb (NASDAQ:ABNB) had its price target dropped by equities research analysts at TD Cowen from $180.00 to $170.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 15.38% from the company’s current price.

ABNB has been the topic of a number of other research reports. Truist Financial increased their price objective on shares of Airbnb from $118.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Royal Bank of Canada increased their price target on shares of Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and increased their price target for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Piper Sandler reiterated a “neutral” rating and issued a $155.00 price target (up from $145.00) on shares of Airbnb in a research report on Thursday. Finally, Tigress Financial increased their price target on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $151.55.

Airbnb Stock Down 6.7 %

Shares of NASDAQ ABNB traded down $10.56 during midday trading on Thursday, hitting $147.34. The stock had a trading volume of 9,134,040 shares, compared to its average volume of 4,518,218. The business’s 50 day moving average is $161.68 and its 200-day moving average is $145.50. The company has a market cap of $95.34 billion, a P/E ratio of 20.36, a PEG ratio of 2.12 and a beta of 1.24. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, analysts predict that Airbnb will post 4.47 EPS for the current year.

Insider Activity

In other news, CFO Elinor Mertz sold 9,196 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total value of $1,441,564.96. Following the completion of the sale, the chief financial officer now owns 535,530 shares in the company, valued at approximately $83,949,682.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Airbnb news, CEO Brian Chesky sold 76,912 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the transaction, the chief executive officer now owns 14,545,529 shares in the company, valued at approximately $2,149,683,730.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elinor Mertz sold 9,196 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total transaction of $1,441,564.96. Following the transaction, the chief financial officer now owns 535,530 shares in the company, valued at approximately $83,949,682.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,874 shares of company stock worth $63,712,671. 27.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Several large investors have recently made changes to their positions in the business. Joel Isaacson & Co. LLC boosted its holdings in shares of Airbnb by 2.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after acquiring an additional 67 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after purchasing an additional 68 shares during the period. Cigna Investments Inc. New grew its position in shares of Airbnb by 1.6% in the first quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors grew its position in shares of Airbnb by 55.0% in 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 period. Finally, Mount Vernon Associates Inc. MD grew its position in shares of Airbnb by 1.0% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company’s stock valued at $990,000 after purchasing an additional 75 shares during the period. 80.76% of the stock is owned by hedge funds and other 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.