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

Airbnb (NASDAQ:ABNB) had its target price lowered by Mizuho from $175.00 to $170.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on ABNB. BMO Capital Markets dropped their target price on Airbnb from $151.00 to $130.00 and set a market perform rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group cut their price objective on shares of Airbnb from $125.00 to $120.00 and set a hold rating for the company in a research report on Wednesday, September 4th. Barclays cut their price objective on shares of Airbnb from $110.00 to $100.00 and set an underweight rating for the company in a research report on Wednesday, August 7th. Wedbush cut their price objective on shares of Airbnb from $165.00 to $135.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America cut their price objective on shares of Airbnb from $160.00 to $132.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $133.45.

Airbnb Price Performance

Airbnb stock opened at $117.55 on Friday. The company has a fifty day simple moving average of $127.46 and a 200-day simple moving average of $145.45. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results 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). The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Airbnb will post 4.39 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares in the company, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the sale, the chief accounting officer now owns 44,043 shares in the company, valued at approximately $6,424,992.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the transaction, the chief technology officer now directly owns 209,374 shares in the company, valued at $31,190,444.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,332 shares of company stock worth $67,263,009. 27.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Airbnb

A number of institutional investors have recently modified their holdings of ABNB. Norges Bank acquired a new position in shares of Airbnb in the 4th quarter valued at $619,584,000. Jennison Associates LLC increased its holdings in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after acquiring an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares during the period. Edgewood Management LLC increased its stake in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

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.