Truist Financial Lowers Airbnb (NASDAQ:ABNB) Price Target to $112.00

Airbnb (NASDAQ:ABNB) had its price target reduced by research analysts at Truist Financial from $123.00 to $112.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential downside of 11.22% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a research note on Tuesday, February 4th. Canaccord Genuity Group boosted their price target on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Argus raised Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $147.82.

Airbnb Stock Up 0.1 %

Airbnb stock opened at $126.15 on Friday. The company has a fifty day simple moving average of $135.74 and a 200 day simple moving average of $133.10. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a market cap of $79.54 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Research analysts anticipate that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $137.00, for a total value of $856,250.00. Following the sale, the chief financial officer now owns 491,238 shares in the company, valued at $67,299,606. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 230,772 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,094,370 shares of company stock valued at $294,900,910 over the last ninety days. 27.83% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

A number of hedge funds have recently made changes to their positions in ABNB. MJP Associates Inc. ADV increased its position in Airbnb by 1.8% in the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after acquiring an additional 67 shares during the period. CAP Partners LLC boosted its stake in shares of Airbnb by 3.6% in the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after purchasing an additional 77 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Airbnb by 1.4% during the 4th quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after acquiring an additional 78 shares during the period. Ellevest Inc. grew its stake in Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after purchasing an additional 80 shares during the period. Finally, Manchester Capital Management LLC increased its stake in shares of Airbnb by 18.2% in the 4th quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after acquiring an additional 81 shares in the last quarter. 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.