Deutsche Bank Aktiengesellschaft Cuts Airbnb (NASDAQ:ABNB) Price Target to $90.00

Airbnb (NASDAQ:ABNB) had its target price reduced by Deutsche Bank Aktiengesellschaft from $143.00 to $90.00 in a research note issued to investors on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Other analysts also recently issued reports about the company. BMO Capital Markets decreased their price target on Airbnb from $151.00 to $130.00 and set a market perform rating for the company in a report on Wednesday. Citigroup decreased their price target on Airbnb from $170.00 to $167.00 and set a buy rating for the company in a report on Thursday, May 9th. Mizuho raised Airbnb from a neutral rating to a buy rating and boosted their target price for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. B. Riley reduced their target price on Airbnb from $150.00 to $140.00 and set a neutral rating for the company in a report on Wednesday. Finally, Wedbush reduced their target price on Airbnb from $165.00 to $135.00 and set an outperform rating for the company in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $137.00.

Airbnb Stock Up 0.4 %

NASDAQ:ABNB traded up $0.44 during midday trading on Wednesday, reaching $115.08. The company had a trading volume of 4,764,351 shares, compared to its average volume of 4,601,965. The firm has a market capitalization of $74.12 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 1.18. The stock’s fifty day simple moving average is $144.45 and its 200-day simple moving average is $151.43. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25.

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 business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, sell-side analysts anticipate that Airbnb will post 4.66 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the sale, the chief technology officer now owns 205,774 shares of the company’s stock, valued at approximately $26,044,815.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the sale, the chief technology officer now owns 205,774 shares of the company’s stock, valued at approximately $26,044,815.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 80,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 207,574 shares in the company, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after purchasing an additional 791,149 shares during the period. Edgewood Management LLC lifted 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 worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the period. Jennison Associates LLC lifted 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 worth $1,753,860,000 after purchasing an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD lifted 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 worth $958,279,000 after purchasing an additional 3,558,178 shares during the period. Finally, Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter worth $619,584,000. Hedge funds and other 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.