Airbnb (NASDAQ:ABNB) Price Target Cut to $130.00

Airbnb (NASDAQ:ABNB) had its price objective reduced by stock analysts at Susquehanna from $180.00 to $130.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 13.40% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler Companies boosted their target price on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. TD Cowen dropped their price objective on Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. HSBC lowered Airbnb from a “buy” rating to a “hold” rating and reduced their target price for the company from $160.00 to $156.00 in a report on Thursday, May 9th. Wells Fargo & Company increased their price target on shares of Airbnb from $127.00 to $129.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $137.00.

Airbnb Stock Up 1.4 %

Shares of NASDAQ ABNB opened at $114.64 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $73.83 billion, a PE ratio of 15.35, a P/E/G ratio of 1.67 and a beta of 1.18. Airbnb has a one year low of $110.38 and a one year high of $170.10. The business’s fifty day moving average price is $145.04 and its 200-day moving average price is $151.62.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share 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 the consensus estimate of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’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 business earned $0.98 EPS. On average, equities research analysts anticipate that Airbnb will post 4.66 EPS for the current year.

Insider Activity

In related news, CAO David C. Bernstein sold 6,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total transaction of $882,000.00. Following the completion of the sale, the chief accounting officer now directly owns 47,043 shares in the company, valued at approximately $6,915,321. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David C. Bernstein sold 6,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the sale, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at approximately $6,915,321. The disclosure for this sale can be found here. Over the last three months, insiders have sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the company. Joel Isaacson & Co. LLC increased its stake in shares of Airbnb by 2.3% during the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after purchasing an additional 67 shares in the last quarter. Miracle Mile Advisors LLC increased its position in Airbnb by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after buying an additional 68 shares in the last quarter. Cigna Investments Inc. New raised its stake in Airbnb by 1.6% during the first quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after buying an additional 69 shares during the last quarter. Farrow Financial Inc. boosted its holdings in Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after acquiring an additional 69 shares in the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

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.