Airbnb (NASDAQ:ABNB) Price Target Cut to $140.00

Airbnb (NASDAQ:ABNB) had its price objective cut by B. Riley from $150.00 to $140.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price objective points to a potential upside of 24.99% from the company’s previous close.

ABNB has been the subject of several other research reports. Robert W. Baird cut their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. TD Cowen cut their price target on Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company cut their price target on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday. Mizuho upgraded Airbnb from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Finally, BMO Capital Markets lowered their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $143.70.

Airbnb Price Performance

Shares of Airbnb stock traded down $18.46 during mid-day trading on Wednesday, reaching $112.01. 20,207,463 shares of the stock traded hands, compared to its average volume of 4,519,988. The business has a 50-day moving average of $146.33 and a 200 day moving average of $152.15. Airbnb has a fifty-two week low of $110.42 and a fifty-two week high of $170.10. The stock has a market capitalization of $72.14 billion, a PE ratio of 15.18, a PEG ratio of 1.67 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 EPS 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 for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company earned $0.98 EPS. Airbnb’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Airbnb will post 4.66 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the sale, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total value of $11,928,800.00. Following the sale, the chief technology officer now directly owns 207,574 shares in the company, valued at $30,951,359.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the sale, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 734,892 shares of company stock worth $109,326,124. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds and other institutional investors have recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Airbnb during the first quarter worth about $7,628,000. Rafferty Asset Management LLC increased its position in shares of Airbnb by 18.4% during the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after purchasing an additional 22,551 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Airbnb during the fourth quarter worth about $726,000. Cerity Partners LLC increased its position in shares of Airbnb by 14.4% during the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after purchasing an additional 12,008 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its position in shares of Airbnb by 17.2% during the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after purchasing an additional 985 shares in the last quarter. 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.