Truist Financial Trims Airbnb (NASDAQ:ABNB) Target Price to $124.00

Airbnb (NASDAQ:ABNB) had its price objective lowered by Truist Financial from $134.00 to $124.00 in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other analysts have also commented on the stock. Susquehanna lowered their price objective on shares of Airbnb from $180.00 to $130.00 and set a positive rating for the company in a report on Wednesday, August 7th. BMO Capital Markets dropped their price target on Airbnb from $151.00 to $130.00 and set a market perform rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Airbnb from $130.00 to $111.00 and set a sell rating for the company in a report on Thursday, August 8th. Barclays lowered their price objective on Airbnb from $110.00 to $100.00 and set an underweight rating for the company in a research report on Wednesday, August 7th. Finally, Benchmark reaffirmed a buy rating and issued a $155.00 target price on shares of Airbnb in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Airbnb has an average rating of Hold and an average price target of $134.48.

Airbnb Price Performance

Shares of Airbnb stock opened at $114.28 on Wednesday. The business has a 50 day moving average of $131.77 and a 200 day moving average of $147.03. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $73.60 billion, a PE ratio of 15.30, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Airbnb will post 4.43 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CAO David C. Bernstein sold 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $145.50, for a total transaction of $291,000.00. Following the completion of the sale, the chief accounting officer now owns 45,043 shares of the company’s stock, valued at approximately $6,553,756.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $147.97, for a total value of $88,782.00. Following the sale, the chief technology officer now owns 210,574 shares in the company, valued at $31,158,634.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David C. Bernstein sold 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $145.50, for a total transaction of $291,000.00. Following the sale, the chief accounting officer now directly owns 45,043 shares in the company, valued at approximately $6,553,756.50. The disclosure for this sale can be found here. Insiders have sold 612,907 shares of company stock worth $91,473,471 in the last quarter. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of large investors have recently made changes to their positions in ABNB. Sanctuary Advisors LLC bought a new position in shares of Airbnb in the 2nd quarter valued at about $7,342,000. New Century Financial Group LLC purchased a new stake in Airbnb in the 2nd quarter worth about $238,000. Aristides Capital LLC lifted its stake in Airbnb by 11.2% in the second quarter. Aristides Capital LLC now owns 9,950 shares of the company’s stock worth $1,509,000 after purchasing an additional 1,000 shares during the last quarter. Garde Capital Inc. boosted its position in shares of Airbnb by 903.7% during the second quarter. Garde Capital Inc. now owns 7,287 shares of the company’s stock valued at $1,105,000 after buying an additional 6,561 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in shares of Airbnb by 13.1% during the second quarter. EP Wealth Advisors LLC now owns 2,442 shares of the company’s stock valued at $370,000 after buying an additional 282 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

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.