Airbnb (NASDAQ:ABNB) Price Target Lowered to $155.00 at Benchmark

Airbnb (NASDAQ:ABNB) had its price objective lowered by Benchmark from $190.00 to $155.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 38.76% from the stock’s current price.

Several other brokerages have also commented on ABNB. DA Davidson reiterated a “neutral” rating and set a $145.00 price target on shares of Airbnb in a research note on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Wednesday. HSBC cut shares of Airbnb from a “buy” rating to a “hold” rating and reduced their target price for the company from $160.00 to $156.00 in a report on Thursday, May 9th. UBS Group decreased their price objective on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.63.

Airbnb Stock Down 14.4 %

NASDAQ ABNB traded down $18.77 during trading hours on Wednesday, hitting $111.70. 22,716,070 shares of the company were exchanged, compared to its average volume of 4,536,602. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm has a market cap of $71.94 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.67 and a beta of 1.18. The company has a 50 day moving average of $146.33 and a two-hundred day moving average of $152.15. Airbnb has a 52-week low of $110.42 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate 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 that occurred on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the transaction, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 80,000 shares of Airbnb stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total value of $11,928,800.00. Following the completion of the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 734,892 shares of company stock worth $109,326,124. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several institutional investors have recently made changes to their positions in ABNB. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Airbnb in the 1st quarter worth about $7,628,000. Rafferty Asset Management LLC raised its stake in shares of Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after acquiring an additional 22,551 shares during the period. Stevens Capital Management LP acquired a new position in shares of Airbnb during the 4th quarter valued at $726,000. Cerity Partners LLC boosted its position in Airbnb by 14.4% during the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after purchasing an additional 12,008 shares during the period. Finally, SteelPeak Wealth LLC increased its holdings in Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after purchasing an additional 985 shares in the last quarter. 80.76% of the stock is 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.