Wells Fargo & Company Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price target decreased by stock analysts at Wells Fargo & Company from $134.00 to $100.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 5.38% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial dropped their price target on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Susquehanna increased their price target on Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research note on Tuesday, February 18th. Barclays raised their price target on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Benchmark upped their price objective on Airbnb from $150.00 to $178.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Hsbc Global Res upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $146.56.

Airbnb Stock Performance

Shares of Airbnb stock opened at $105.69 on Monday. The firm has a 50 day simple moving average of $132.25 and a 200 day simple moving average of $133.21. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $166.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $66.64 billion, a P/E ratio of 25.59, a P/E/G ratio of 3.52 and a beta of 1.15.

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

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction dated 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 owns 170,019 shares of the company’s stock, valued at $20,346,173.73. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 2,712 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $156.32, for a total transaction of $423,939.84. Following the completion of the sale, the insider now directly owns 159,337 shares in the company, valued at approximately $24,907,559.84. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,030,357 shares of company stock valued at $284,351,868 in the last 90 days. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Airbnb during the 4th quarter valued at $433,374,000. Clearbridge Investments LLC raised its position in shares of Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP raised its position in shares of Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Meritage Group LP acquired a new stake in shares of Airbnb during the 3rd quarter worth about $160,985,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after buying an additional 1,185,892 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.