Airbnb (NASDAQ:ABNB) Price Target Cut to $100.00

Airbnb (NASDAQ:ABNB) had its price target cut by Wells Fargo & Company from $129.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 12.00% from the company’s previous close.

A number of other equities analysts also recently issued reports on ABNB. Susquehanna dropped their price objective on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of Airbnb in a report on Thursday, July 18th. Piper Sandler Companies lifted their price target on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Morgan Stanley lifted their price target on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $148.58.

Airbnb Stock Performance

Shares of ABNB traded down $16.83 on Wednesday, reaching $113.64. The company’s stock had a trading volume of 13,300,976 shares, compared to its average volume of 4,474,250. 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 $73.19 billion, a P/E ratio of 14.90, a PEG ratio of 1.67 and a beta of 1.18. The stock’s 50 day simple moving average is $146.33 and its two-hundred day simple moving average is $152.15. Airbnb has a 12-month low of $110.42 and a 12-month 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 (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 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 quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Research analysts forecast that Airbnb will post 4.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $146.00, for a total value of $87,600.00. Following the sale, the chief technology officer now owns 211,774 shares in the company, valued at $30,919,004. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CAO David C. Bernstein sold 6,000 shares of the business’s 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 transaction, the chief accounting officer now owns 47,043 shares in the company, valued at $6,915,321. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $146.00, for a total transaction of $87,600.00. Following the transaction, the chief technology officer now owns 211,774 shares in the company, valued at approximately $30,919,004. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 734,892 shares of company stock worth $109,326,124. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Joel Isaacson & Co. LLC increased its position in 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 acquiring an additional 67 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Airbnb by 0.7% during the first 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 last quarter. Cigna Investments Inc. New increased its position 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 acquiring an additional 69 shares during the last quarter. Farrow Financial Inc. increased its position in Airbnb by 1.0% during the second 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 last quarter. Finally, Heritage Wealth Advisors grew its holdings 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 purchasing an additional 71 shares during 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.