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

Airbnb (NASDAQ:ABNB) had its price objective lowered by JPMorgan Chase & Co. from $145.00 to $121.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on ABNB. Wells Fargo & Company dropped their target price on shares of Airbnb from $129.00 to $100.00 and set an underweight rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their target price on shares of Airbnb from $150.00 to $120.00 and set a sector perform rating on the stock in a report on Wednesday. Barclays dropped their target price on shares of Airbnb from $110.00 to $100.00 and set an underweight rating on the stock in a report on Wednesday. Morgan Stanley increased their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock an underweight rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Airbnb in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $137.00.

Airbnb Trading Up 0.4 %

Shares of ABNB traded up $0.44 during midday trading on Wednesday, hitting $115.08. The stock had a trading volume of 4,764,351 shares, compared to its average volume of 4,601,965. The stock’s 50 day moving average is $144.45 and its 200 day moving average is $151.43. 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 firm has a market cap of $74.12 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. 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 results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during 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%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, analysts forecast that Airbnb will post 4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s 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 of the company’s stock, valued at approximately $26,044,815.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s 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 of the company’s stock, valued at approximately $26,044,815.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the transaction, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at $30,951,359.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its stake in shares of Airbnb by 2.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after purchasing an additional 67 shares during the period. Miracle Mile Advisors LLC grew its stake in Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after acquiring an additional 68 shares during the period. Cigna Investments Inc. New grew its stake in Airbnb by 1.6% in the 1st quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after acquiring an additional 69 shares during the period. Farrow Financial Inc. grew its stake in Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares during the period. Finally, Heritage Wealth Advisors grew its stake in Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds 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.