Airbnb (NASDAQ:ABNB) Given New $120.00 Price Target at Jefferies Financial Group

Airbnb (NASDAQ:ABNB) had its target price cut by Jefferies Financial Group from $125.00 to $120.00 in a research report released on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently weighed in on ABNB. Benchmark reissued a buy rating and issued a $155.00 target price on shares of Airbnb in a research report on Monday, August 26th. Argus cut shares of Airbnb from a buy rating to a hold rating in a research report on Wednesday. HSBC cut shares of Airbnb from a buy rating to a hold rating and reduced their price target for the stock from $160.00 to $156.00 in a research report on Thursday, May 9th. Susquehanna reduced their price target on shares of Airbnb from $180.00 to $130.00 and set a positive rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Airbnb from $129.00 to $100.00 and set an underweight rating on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $134.48.

Airbnb Stock Down 1.6 %

Shares of NASDAQ ABNB opened at $114.28 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The stock’s 50-day simple moving average is $131.77 and its 200-day simple moving average is $147.02. The firm has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.55 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that Airbnb will post 4.43 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the transaction, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now owns 46,467 shares in the company, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Insiders have sold 612,907 shares of company stock worth $91,473,471 over the last quarter. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after buying an additional 791,149 shares during the period. Edgewood Management LLC boosted its holdings in Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares in the last quarter. Jennison Associates LLC boosted its stake in Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Finally, Norges Bank bought a new stake in Airbnb during the fourth quarter worth about $619,584,000. Institutional investors and hedge funds 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.