Airbnb (NASDAQ:ABNB) Price Target Cut to $120.00

Airbnb (NASDAQ:ABNB) had its price objective cut by Jefferies Financial Group from $125.00 to $120.00 in a report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler Companies increased their price objective on Airbnb from $145.00 to $155.00 and gave the company a neutral rating in a report on Thursday, May 9th. TD Cowen decreased their price target on shares of Airbnb from $170.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on shares of Airbnb from $129.00 to $100.00 and set an underweight rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on shares of Airbnb from $150.00 to $120.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. Finally, Robert W. Baird lowered their price target on Airbnb from $140.00 to $120.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $134.48.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $114.28 on Wednesday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a market capitalization of $73.60 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The company’s fifty day moving average price is $131.77 and its 200 day moving average price is $147.02.

Airbnb (NASDAQ:ABNB) last posted 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). The firm 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 firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. As a group, sell-side analysts predict that Airbnb will post 4.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the transaction, the chief executive officer now owns 14,145,072 shares of the company’s stock, valued at $2,082,861,852. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the transaction, the chief executive officer now directly owns 14,145,072 shares in the company, valued at approximately $2,082,861,852. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’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 owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 612,907 shares of company stock worth $91,473,471. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in Airbnb in the 1st quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in shares of Airbnb in the fourth quarter valued at about $27,000. New Millennium Group LLC acquired a new stake in shares of Airbnb in the second quarter valued at about $28,000. Vima LLC acquired a new position in Airbnb during the 4th quarter worth approximately $29,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb during the 2nd quarter worth approximately $30,000. 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.