Jefferies Financial Group Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price target decreased by Jefferies Financial Group from $165.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 31.57% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Wedbush lowered their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. UBS Group lowered their price objective on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $142.72.

Airbnb Trading Up 2.8%

NASDAQ ABNB opened at $121.61 on Monday. Airbnb has a 12-month low of $99.88 and a 12-month high of $163.93. The firm’s fifty day simple moving average is $134.51 and its two-hundred day simple moving average is $130.82. The firm has a market capitalization of $76.18 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.16 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other news, CAO David C. Bernstein sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares of the company’s stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total transaction of $83,634.00. Following the sale, the chief technology officer directly owned 209,777 shares of the company’s stock, valued at $29,240,816.03. This represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 over the last three months. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently modified their holdings of the stock. Ritholtz Wealth Management increased its stake in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock worth $636,000 after purchasing an additional 484 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock worth $6,115,000 after purchasing an additional 228 shares in the last quarter. Spire Wealth Management grew its stake in Airbnb by 40.1% during the 1st quarter. Spire Wealth Management now owns 909 shares of the company’s stock valued at $109,000 after acquiring an additional 260 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Airbnb by 366.3% during the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company’s stock valued at $106,000 after acquiring an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Airbnb by 39.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock valued at $8,750,000 after acquiring an additional 20,753 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.