Airbnb (NASDAQ:ABNB) Price Target Cut to $130.00 by Analysts at Wedbush

Airbnb (NASDAQ:ABNB) had its price target dropped by stock analysts at Wedbush from $135.00 to $130.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price objective would indicate a potential upside of 7.20% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company set a $128.00 price objective on shares of Airbnb and gave the stock an “equal weight” rating in a research note on Friday, January 9th. KeyCorp began coverage on shares of Airbnb in a research note on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Sanford C. Bernstein lowered their target price on Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Truist Financial increased their price objective on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research note on Thursday, December 4th. Finally, Citigroup upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nineteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $148.85.

Airbnb Price Performance

Shares of ABNB stock opened at $121.27 on Friday. The firm has a fifty day moving average price of $131.22 and a 200-day moving average price of $127.10. Airbnb has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market cap of $74.65 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.93 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the company earned $2.13 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts expect that Airbnb will post 4.31 EPS for the current year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 2,565 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $134.79, for a total transaction of $345,736.35. Following the completion of the sale, the chief technology officer owned 165,086 shares in the company, valued at $22,251,941.94. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the completion of the sale, the director owned 460,015 shares in the company, valued at approximately $61,310,799.20. This trade represents a 11.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,206,022 shares of company stock valued at $148,582,096. Insiders own 27.91% of the company’s stock.

Institutional Trading of Airbnb

Several hedge funds have recently made changes to their positions in ABNB. ORG Partners LLC boosted its stake in shares of Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the period. Entrust Financial LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Airbnb during the third quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new position in Airbnb in the fourth quarter valued at approximately $29,000. Finally, Concord Wealth Partners acquired a new position in shares of Airbnb in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.