JPMorgan Chase & Co. Lowers Airbnb (NASDAQ:ABNB) Price Target to $121.00

Airbnb (NASDAQ:ABNB) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $145.00 to $121.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.27% from the company’s previous close.

A number of other research firms also recently issued reports on ABNB. Truist Financial boosted their price target on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company reduced their price objective on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of Airbnb in a research note on Thursday, July 18th. Morgan Stanley lifted their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler Companies increased their price objective on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.93.

Airbnb Stock Down 14.3 %

Shares of ABNB traded down $18.71 during mid-day trading on Wednesday, hitting $111.76. 22,356,664 shares of the company traded hands, compared to its average volume of 4,534,222. Airbnb has a 1-year low of $110.42 and a 1-year high of $170.10. The business has a 50 day moving average of $146.33 and a 200 day moving average of $152.15. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $71.98 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. Equities research analysts anticipate that Airbnb will post 4.66 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the transaction, the chief executive officer now owns 14,260,457 shares in the company, valued at approximately $2,083,167,558.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the sale, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aristotle N. Balogh 600 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Over the last ninety days, insiders have sold 734,892 shares of company stock valued at $109,326,124. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Airbnb in the 4th quarter worth about $619,584,000. Jennison Associates LLC grew its position in Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares during the period. Edgewood Management LLC raised its holdings in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the period. 80.76% of the stock is owned by institutional investors.

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.