Airbnb (NASDAQ:ABNB) Price Target Lowered to $96.00 at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its price target cut by Wells Fargo & Company from $100.00 to $96.00 in a research report report published on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities analysts also recently commented on the stock. Piper Sandler upped their target price on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. TD Cowen boosted their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird increased their price target on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Susquehanna increased their price target on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Trading Up 2.2 %

Shares of ABNB opened at $135.12 on Thursday. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $134.16 and its 200-day moving average price is $132.11. The firm has a market capitalization of $85.66 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the company posted $2.39 earnings per share. Sell-side analysts anticipate that Airbnb will post 3.99 EPS for the current year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares in the company, valued at $26,247,996.84. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the transaction, the director now owns 1,071,430 shares in the company, valued at $138,160,898.50. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,130,982 shares of company stock worth $150,523,585. 27.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several hedge funds have recently modified their holdings of the business. Salvus Wealth Management LLC increased its stake in Airbnb by 2.5% during the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of Airbnb by 3.8% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,305 shares of the company’s stock worth $292,000 after acquiring an additional 85 shares in the last quarter. Edge Capital Group LLC increased its stake in shares of Airbnb by 1.2% in the second quarter. Edge Capital Group LLC now owns 7,617 shares of the company’s stock valued at $1,155,000 after buying an additional 87 shares in the last quarter. Lazari Capital Management Inc. lifted its holdings in Airbnb by 3.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 2,517 shares of the company’s stock worth $382,000 after buying an additional 88 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Airbnb by 19.3% during the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock worth $74,000 after buying an additional 94 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

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.