Airbnb (NASDAQ:ABNB) Price Target Cut to $112.00 by Analysts at Truist Financial

Airbnb (NASDAQ:ABNB) had its price objective lowered by investment analysts at Truist Financial from $123.00 to $112.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential downside of 13.04% from the stock’s current price.

Several other brokerages have also commented on ABNB. Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Tigress Financial lifted their target price on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Canaccord Genuity Group boosted their price objective on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley lifted their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Finally, HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $147.82.

Airbnb Trading Up 2.1 %

ABNB opened at $128.80 on Friday. The firm has a market cap of $81.21 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $135.72 and its two-hundred day moving average is $133.30. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.00.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data 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%. On average, research analysts predict that Airbnb will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $131.87, for a total value of $2,637,400.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $24,450,544.18. This represents a 9.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,772 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the sale, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,094,370 shares of company stock worth $294,900,910 over the last quarter. Company insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of institutional investors have recently added to or reduced their stakes in ABNB. Norges Bank bought a new position in shares of Airbnb during the 4th quarter valued at approximately $433,374,000. Clearbridge Investments LLC lifted its stake in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after buying an additional 2,577,000 shares in the last quarter. Meritage Group LP purchased a new stake in shares of Airbnb during the 3rd quarter valued at $160,985,000. Finally, Principal Financial Group Inc. raised its position 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 valued at $245,268,000 after buying an additional 1,185,892 shares in 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.