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

Airbnb (NASDAQ:ABNB) had its target price decreased by equities researchers at Susquehanna from $180.00 to $130.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 13.40% from the stock’s current price.

Other analysts have also issued research reports about the stock. UBS Group boosted their price objective on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Wells Fargo & Company boosted their price target on shares of Airbnb from $127.00 to $129.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of Airbnb in a report on Thursday, July 18th. Wedbush reiterated an “outperform” rating and set a $165.00 target price on shares of Airbnb in a report on Tuesday, July 30th. Finally, HSBC downgraded Airbnb from a “buy” rating to a “hold” rating and decreased their price target for the company from $160.00 to $156.00 in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $137.00.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $114.64 on Wednesday. The company has a fifty day moving average price of $145.04 and a 200 day moving average price of $151.62. The firm has a market cap of $73.83 billion, a PE ratio of 15.35, a PEG ratio of 1.67 and a beta of 1.18. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10.

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

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the completion of the sale, the chief technology officer now directly owns 205,774 shares in the company, valued at $26,044,815.18. The sale was disclosed in a filing with the SEC, which is available at this link. In other 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 transaction 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 approximately $2,083,167,558.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total transaction of $75,942.00. Following the completion of the transaction, the chief technology officer now directly owns 205,774 shares in the company, valued at $26,044,815.18. The disclosure for this sale can be found here. Over the last ninety 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 hedge funds and other institutional investors have recently modified their holdings of ABNB. CHURCHILL MANAGEMENT Corp bought a new position in Airbnb in the first quarter valued at about $7,628,000. Rafferty Asset Management LLC grew its holdings in shares of Airbnb by 18.4% during the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares during the last quarter. Stevens Capital Management LP acquired a new position in Airbnb during the 4th quarter worth approximately $726,000. Cerity Partners LLC lifted its stake in Airbnb by 14.4% in the 4th 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 boosted its position in Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after buying an additional 985 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

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.