JPMorgan Chase & Co. Lowers Airbnb (NASDAQ:ABNB) Price Target to $115.00

Airbnb (NASDAQ:ABNB) had its target price decreased by research analysts at JPMorgan Chase & Co. from $160.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 5.21% from the company’s previous close.

A number of other research firms also recently weighed in on ABNB. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and upped their target price for the company from $165.00 to $185.00 in a research report on Monday, March 10th. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Bank of America upped their price target on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, Truist Financial decreased their price objective on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $146.56.

Airbnb Trading Up 14.8 %

ABNB stock opened at $121.32 on Tuesday. Airbnb has a 52 week low of $99.88 and a 52 week high of $166.74. The company has a market capitalization of $76.50 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. The company’s 50-day simple moving average is $131.85 and its 200 day simple moving average is $133.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, sell-side analysts anticipate that Airbnb will post 4.31 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total value of $83,769.00. Following the completion of the transaction, the chief technology officer now directly owns 170,019 shares in the company, valued at approximately $20,346,173.73. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 38,459 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $120.44, for a total value of $4,632,001.96. Following the sale, the chief executive officer now owns 11,731,685 shares in the company, valued at $1,412,964,141.40. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,030,357 shares of company stock valued at $284,351,868 over the last three months. Company insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Airbnb by 4.0% during the 3rd quarter. Janus Henderson Group PLC now owns 54,131 shares of the company’s stock valued at $6,866,000 after buying an additional 2,100 shares during the last quarter. Quarry LP purchased a new position in shares of Airbnb during the third quarter valued at about $55,000. XTX Topco Ltd bought a new stake in Airbnb during the 3rd quarter valued at approximately $592,000. MML Investors Services LLC raised its position in shares of Airbnb by 26.0% in the 3rd quarter. MML Investors Services LLC now owns 66,100 shares of the company’s stock worth $8,382,000 after acquiring an additional 13,635 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Airbnb by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 159,765 shares of the company’s stock worth $20,260,000 after purchasing an additional 5,761 shares during the period. 80.76% of the stock is currently owned by 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.