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

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

Several other research firms also recently weighed in on ABNB. Morgan Stanley lifted their price objective on Airbnb from $120.00 to $130.00 and gave the company an underweight rating in a report on Tuesday, July 23rd. Argus lowered shares of Airbnb from a buy rating to a hold rating in a report on Wednesday. Citigroup dropped their price objective on shares of Airbnb from $170.00 to $167.00 and set a buy rating on the stock in a research note on Thursday, May 9th. TD Cowen reduced their price objective on shares of Airbnb from $170.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler Companies increased their target price on Airbnb from $145.00 to $155.00 and gave the company a neutral rating in a research report on Thursday, May 9th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of Hold and a consensus price target of $134.48.

Airbnb Price Performance

Shares of ABNB stock opened at $114.28 on Wednesday. The company has a market capitalization of $73.60 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.55 and a beta of 1.16. The company’s 50-day simple moving average is $131.77 and its two-hundred day simple moving average is $147.03. Airbnb has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results 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 firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, equities analysts anticipate that Airbnb will post 4.43 EPS for the current year.

Insider Buying and Selling

In other news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $147.25, for a total value of $16,990,441.25. Following the sale, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at $2,082,861,852. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $147.97, for a total value of $88,782.00. Following the completion of the transaction, the chief technology officer now directly 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 this hyperlink. Also, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $147.25, for a total value of $16,990,441.25. Following the sale, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at approximately $2,082,861,852. The disclosure for this sale can be found here. In the last three months, insiders have sold 612,907 shares of company stock worth $91,473,471. Insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Airbnb during the first quarter valued at about $7,628,000. Rafferty Asset Management LLC grew its holdings in shares of Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares in the last quarter. SteelPeak Wealth LLC increased its stake in Airbnb by 17.2% during the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after buying an additional 985 shares during the period. ProShare Advisors LLC lifted its holdings in Airbnb by 20.6% during the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after buying an additional 83,383 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Airbnb by 35.8% in the 4th quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock valued at $19,503,000 after buying an additional 37,785 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.