UBS Group Cuts Airbnb (NASDAQ:ABNB) Price Target to $134.00

Airbnb (NASDAQ:ABNB) had its target price cut by UBS Group from $160.00 to $134.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on ABNB. Wells Fargo & Company lowered their price target on shares of Airbnb from $129.00 to $100.00 and set an underweight rating for the company in a report on Wednesday. Piper Sandler decreased their price target on Airbnb from $155.00 to $125.00 and set a neutral rating for the company in a report on Wednesday. Morgan Stanley boosted their price objective on Airbnb from $120.00 to $130.00 and gave the company an underweight rating in a research note on Tuesday, July 23rd. Susquehanna cut their target price on Airbnb from $180.00 to $130.00 and set a positive rating on the stock in a research report on Wednesday. Finally, Citigroup dropped their price target on Airbnb from $170.00 to $167.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $137.00.

Airbnb Trading Up 0.4 %

Shares of ABNB stock traded up $0.44 during trading hours on Wednesday, hitting $115.08. 4,764,351 shares of the company’s stock traded hands, compared to its average volume of 4,601,965. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market cap of $74.12 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The stock’s 50 day simple moving average is $144.45 and its 200 day simple moving average is $151.43.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts anticipate that Airbnb will post 4.66 EPS for the current year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total value of $87,426.00. Following the sale, the chief technology officer now owns 212,374 shares of the company’s stock, valued at $30,945,015.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares in the company, valued at approximately $2,083,167,558.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total transaction of $87,426.00. Following the sale, the chief technology officer now directly owns 212,374 shares in the company, valued at approximately $30,945,015.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is owned by insiders.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Airbnb in the fourth quarter valued at approximately $619,584,000. Jennison Associates LLC increased its holdings in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after buying an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 in the last quarter. Edgewood Management LLC lifted its holdings 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 acquiring an additional 2,135,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. 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.