Airbnb (NASDAQ:ABNB) PT Lowered to $121.00

Airbnb (NASDAQ:ABNB) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $145.00 to $121.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.27% from the stock’s current price.

Several other research firms have also weighed in on ABNB. Piper Sandler lowered their target price on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. 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 note on Wednesday. Truist Financial lifted their target price on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. TD Cowen decreased their price target on Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, B. Riley dropped their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $140.93.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded down $18.71 during trading on Wednesday, hitting $111.76. 22,356,664 shares of the stock were exchanged, compared to its average volume of 4,534,222. The company has a market capitalization of $71.98 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb has a 1-year low of $110.42 and a 1-year high of $170.10. The company’s fifty day simple moving average is $146.33 and its 200-day simple moving average is $152.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that Airbnb will post 4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the 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 completion of the transaction, the chief technology officer now directly owns 212,374 shares in the company, valued at $30,945,015.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 734,892 shares of company stock valued at $109,326,124. 27.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC grew its stake in shares of Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after acquiring an additional 67 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of Airbnb by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after purchasing an additional 68 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Airbnb by 1.6% during the first quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock worth $729,000 after purchasing an additional 69 shares during the period. Farrow Financial Inc. raised its position in shares of Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after buying an additional 69 shares in the last quarter. Finally, Heritage Wealth Advisors boosted its stake in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares during the period. Institutional investors own 80.76% of the company’s stock.

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.