Airbnb (NASDAQ:ABNB) Price Target Cut to $135.00 by Analysts at Wedbush

Airbnb (NASDAQ:ABNB) had its price target decreased by Wedbush from $165.00 to $135.00 in a research note published on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Airbnb’s Q3 2024 earnings at $2.07 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $4.01 EPS and FY2025 earnings at $4.45 EPS.

Other equities analysts have also issued research reports about the company. Susquehanna lowered their price objective on Airbnb from $180.00 to $130.00 and set a positive rating on the stock in a research note on Wednesday. HSBC lowered shares of Airbnb from a buy rating to a hold rating and dropped their price objective for the company from $160.00 to $156.00 in a report on Thursday, May 9th. Robert W. Baird reduced their target price on shares of Airbnb from $140.00 to $120.00 and set a neutral rating on the stock in a research note on Wednesday. TD Cowen dropped their price target on shares of Airbnb from $180.00 to $170.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, BMO Capital Markets reduced their price target on shares of Airbnb from $151.00 to $130.00 and set a market perform rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Airbnb presently has an average rating of Hold and an average target price of $137.00.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $115.08 on Wednesday. The firm has a 50-day simple moving average of $144.45 and a 200-day simple moving average of $151.50. 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 stock has a market capitalization of $74.12 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. On average, equities analysts predict that Airbnb will post 4.66 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related 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 directly owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 80,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 of the company’s stock, valued at approximately $30,951,359.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several large investors have recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Airbnb during the 1st quarter worth about $7,628,000. Rafferty Asset Management LLC lifted its stake in 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 during the last quarter. Stevens Capital Management LP acquired a new position in Airbnb in the fourth quarter valued at approximately $726,000. Cerity Partners LLC increased its stake in Airbnb by 14.4% in the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after purchasing an additional 12,008 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in 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. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.