Airbnb (NASDAQ:ABNB) Price Target Lowered to $125.00 at TD Cowen

Airbnb (NASDAQ:ABNB) had its price objective cut by TD Cowen from $170.00 to $125.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

ABNB has been the subject of several other research reports. Barclays lowered their price objective on shares of Airbnb from $110.00 to $100.00 and set an underweight rating for the company in a research note on Wednesday. Needham & Company LLC reissued a hold rating on shares of Airbnb in a research report on Wednesday. BMO Capital Markets cut their price objective on Airbnb from $151.00 to $130.00 and set a market perform rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Airbnb from $129.00 to $100.00 and set an underweight rating for the company in a report on Wednesday. Finally, Piper Sandler cut their price target on Airbnb from $155.00 to $125.00 and set a neutral rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $137.00.

Airbnb Stock Up 0.4 %

Airbnb stock opened at $115.08 on Wednesday. The company has a market capitalization of $74.12 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. 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 has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm has a 50 day moving average price of $144.45 and a 200 day moving average price of $151.50.

Airbnb (NASDAQ:ABNB) last issued 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 firm had revenue of $2.75 billion during 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts expect that Airbnb will post 4.66 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $146.00, for a total transaction of $87,600.00. Following the transaction, the chief technology officer now directly owns 211,774 shares in the company, valued at $30,919,004. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $146.00, for a total value of $87,600.00. Following the transaction, the chief technology officer now directly owns 211,774 shares in the company, valued at approximately $30,919,004. The disclosure for this sale can be found here. Over the last quarter, insiders sold 735,492 shares of company stock worth $109,402,066. 27.83% of the stock is owned by insiders.

Institutional Trading of Airbnb

A number of hedge funds have recently added to or reduced their stakes in the stock. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Airbnb during the first quarter worth approximately $7,628,000. Rafferty Asset Management LLC increased its stake in Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after buying an additional 22,551 shares during the period. Stevens Capital Management LP purchased a new position in Airbnb during the 4th quarter worth $726,000. Cerity Partners LLC lifted its stake in shares of Airbnb by 14.4% in the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after acquiring an additional 12,008 shares during the period. Finally, SteelPeak Wealth LLC boosted its holdings in shares of Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after acquiring an additional 985 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Company Profile

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.