Airbnb (NASDAQ:ABNB) Price Target Cut to $96.00 by Analysts at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its target price lowered by Wells Fargo & Company from $100.00 to $96.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also commented on ABNB. JMP Securities reissued a “market perform” rating on shares of Airbnb in a research note on Monday, December 16th. Piper Sandler increased their price objective on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. Finally, Truist Financial dropped their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Trading Down 0.3 %

ABNB stock opened at $132.16 on Thursday. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $134.45 and its 200-day moving average is $132.22. The firm has a market cap of $83.79 billion, a P/E ratio of 46.37, a P/E/G ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business earned $2.39 earnings per share. Equities analysts anticipate that Airbnb will post 3.99 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at approximately $5,559,597. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the transaction, the chief technology officer now owns 192,844 shares of the company’s stock, valued at approximately $26,247,996.84. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,130,982 shares of company stock valued at $150,523,585 in the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently bought and sold shares of the business. Edgewood Management LLC boosted its stake in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. Geode Capital Management LLC boosted its position in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Legal & General Group Plc raised its position in shares of Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after buying an additional 52,358 shares during the period. Institutional investors own 80.76% of the company’s stock.

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.