Airbnb (NASDAQ:ABNB) Given New $170.00 Price Target at Mizuho

Airbnb (NASDAQ:ABNB) had its price target cut by Mizuho from $175.00 to $170.00 in a report released on Friday, MarketBeat.com reports. They currently have an outperform rating on the stock.

ABNB has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Airbnb from $143.00 to $90.00 and set a hold rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets decreased their price objective on shares of Airbnb from $151.00 to $130.00 and set a market perform rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company decreased their price objective on shares of Airbnb from $129.00 to $100.00 and set an underweight rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on shares of Airbnb in a research report on Thursday, September 5th. They issued an underweight rating and a $94.00 price objective on the stock. Finally, UBS Group decreased their price objective on shares of Airbnb from $160.00 to $134.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Five investment 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, Airbnb presently has a consensus rating of Hold and a consensus price target of $133.45.

Airbnb Stock Performance

Shares of ABNB opened at $117.55 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $75.71 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.54 and a beta of 1.16. The company’s fifty day moving average is $127.46 and its two-hundred day moving average is $145.45. 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Airbnb will post 4.39 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 1,500 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $225,000.00. Following the completion of the sale, the director now directly owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The disclosure for this sale can be found here. Insiders sold 449,332 shares of company stock valued at $67,263,009 over the last 90 days. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in ABNB. Norges Bank purchased a new position in shares of Airbnb during the 4th quarter valued at approximately $619,584,000. Jennison Associates LLC boosted its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other 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.