Airbnb (NASDAQ:ABNB) Price Target Cut to $100.00

Airbnb (NASDAQ:ABNB) had its target price cut by Wells Fargo & Company from $129.00 to $100.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also recently issued reports on ABNB. JPMorgan Chase & Co. lifted their price objective on Airbnb from $140.00 to $145.00 and gave the company a neutral rating in a report on Thursday, May 9th. Truist Financial boosted their price target on shares of Airbnb from $131.00 to $134.00 and gave the company a hold rating in a research report on Thursday, May 30th. UBS Group raised their price objective on shares of Airbnb from $143.00 to $157.00 and gave the stock a neutral rating in a report on Thursday, May 9th. Mizuho raised Airbnb from a neutral rating to a buy rating and boosted their target price for the stock from $150.00 to $200.00 in a report on Wednesday, April 24th. Finally, BMO Capital Markets raised their price target on Airbnb from $135.00 to $151.00 and gave the company a market perform rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $137.00.

Airbnb Price Performance

Shares of Airbnb stock opened at $115.08 on Wednesday. The firm has a market cap of $74.12 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The firm’s 50-day simple moving average is $144.45 and its 200-day simple moving average is $151.50. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts expect that Airbnb will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total value of $87,426.00. Following the completion of the transaction, the chief technology officer now owns 212,374 shares of the company’s stock, valued at approximately $30,945,015.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO David C. Bernstein sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $145.50, for a total transaction of $291,000.00. Following the sale, the chief accounting officer now owns 45,043 shares of the company’s stock, valued at $6,553,756.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $145.71, for a total value of $87,426.00. Following the sale, the chief technology officer now directly owns 212,374 shares of the company’s stock, valued at $30,945,015.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 735,492 shares of company stock valued at $109,402,066. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new stake in Airbnb in the 1st quarter valued at $25,000. Bfsg LLC bought a new stake in shares of Airbnb in the fourth quarter valued at about $27,000. Trust Co. of Vermont acquired a new position in shares of Airbnb during the fourth quarter worth about $27,000. New Millennium Group LLC bought a new position in shares of Airbnb during the second quarter worth about $28,000. Finally, Vima LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.