Airbnb (NASDAQ:ABNB) Price Target Cut to $120.00 by Analysts at Robert W. Baird

Airbnb (NASDAQ:ABNB) had its target price lowered by equities research analysts at Robert W. Baird from $140.00 to $120.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 5.73% from the stock’s current price.

ABNB has been the topic of several other research reports. TD Cowen reduced their price target on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Benchmark restated a “buy” rating and issued a $190.00 price target on shares of Airbnb in a research report on Thursday, July 18th. Wedbush reaffirmed an “outperform” rating and set a $165.00 price objective on shares of Airbnb in a research note on Tuesday, July 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday. Finally, Truist Financial lifted their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $144.44.

Airbnb Price Performance

NASDAQ:ABNB traded down $16.97 during trading hours on Wednesday, hitting $113.50. 17,347,623 shares of the stock traded hands, compared to its average volume of 4,501,049. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a 1 year low of $110.42 and a 1 year high of $170.10. The company has a market cap of $73.10 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The stock has a 50 day moving average price of $146.33 and a 200 day moving average price of $152.15.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Airbnb will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the transaction, the chief executive officer now directly owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Aristotle N. Balogh 600 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the completion of the transaction, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The disclosure for this sale can be found here. Insiders sold a total of 734,892 shares of company stock valued at $109,326,124 over the last three months. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently added to or reduced their stakes in ABNB. Joel Isaacson & Co. LLC increased its holdings in shares of Airbnb by 2.3% during the first 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 in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Airbnb by 0.7% during the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after acquiring an additional 68 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Airbnb by 1.6% during the first quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after acquiring an additional 69 shares in the last quarter. Farrow Financial Inc. increased its holdings in shares of Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares in the last quarter. Finally, Heritage Wealth Advisors increased its holdings in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. 80.76% of the stock is currently 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.