Airbnb (NASDAQ:ABNB) PT Lowered to $120.00

Airbnb (NASDAQ:ABNB) had its price objective cut by Royal Bank of Canada from $150.00 to $120.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently commented on the company. Citigroup decreased their target price on Airbnb from $170.00 to $167.00 and set a buy rating for the company in a report on Thursday, May 9th. Benchmark restated a buy rating and set a $190.00 price objective on shares of Airbnb in a research note on Thursday, July 18th. Wells Fargo & Company reduced their target price on shares of Airbnb from $129.00 to $100.00 and set an underweight rating for the company in a report on Wednesday. Piper Sandler decreased their target price on shares of Airbnb from $155.00 to $125.00 and set a neutral rating for the company in a research report on Wednesday. Finally, Robert W. Baird cut their price target on Airbnb from $140.00 to $120.00 and set a neutral rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $137.00.

Airbnb Stock Performance

NASDAQ:ABNB traded up $0.44 during trading hours on Wednesday, hitting $115.08. 4,764,351 shares of the company were exchanged, compared to its average volume of 4,601,965. The company’s 50 day moving average price is $144.45 and its 200-day moving average price is $151.43. The stock has a market capitalization of $74.12 billion, a price-to-earnings ratio of 15.41, a PEG 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. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data 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 company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. As a group, research analysts forecast that Airbnb will post 4.66 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total transaction of $87,426.00. Following the transaction, the chief technology officer now owns 212,374 shares of the company’s stock, valued at approximately $30,945,015.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $145.71, for a total value of $87,426.00. Following the transaction, the chief technology officer now directly owns 212,374 shares in the company, valued at $30,945,015.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 115,385 shares of the firm’s 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 sale, the chief executive officer now directly owns 14,260,457 shares of the company’s stock, valued at approximately $2,083,167,558.56. The disclosure for this sale can be found here. Insiders sold a total of 735,492 shares of company stock worth $109,402,066 in the last three months. 27.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of Airbnb in the first quarter valued at approximately $25,000. Bfsg LLC purchased a new position in Airbnb in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in shares of Airbnb in the fourth quarter worth $27,000. New Millennium Group LLC purchased a new stake in shares of Airbnb during the second quarter worth $28,000. Finally, Vima LLC purchased a new stake in Airbnb during the 4th quarter worth about $29,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.