Airbnb (NASDAQ:ABNB) Price Target Cut to $96.00 by Analysts at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its price target reduced by equities researchers at Wells Fargo & Company from $100.00 to $96.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 28.95% from the company’s previous close.

A number of other brokerages have also recently commented on ABNB. Wedbush raised their price target on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. DA Davidson increased their price target on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.63.

Airbnb Stock Performance

NASDAQ ABNB opened at $135.12 on Thursday. The firm has a 50-day moving average price of $134.15 and a two-hundred day moving average price of $132.22. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a market capitalization of $85.66 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.63 and a beta of 1.13. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm posted $2.39 earnings per share. Analysts anticipate that Airbnb will post 3.99 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the sale, the director now owns 1,071,430 shares of the company’s stock, valued at approximately $138,160,898.50. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,130,982 shares of company stock worth $150,523,585. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb during the third quarter worth approximately $34,982,000. Tri Ri Asset Management Corp bought a new position in shares of Airbnb during the 3rd quarter worth approximately $6,352,000. J.W. Cole Advisors Inc. grew its position in shares of Airbnb by 86.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after buying an additional 2,132 shares during the period. Shellback Capital LP bought a new stake in shares of Airbnb in the 2nd quarter valued at $22,744,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 40.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock valued at $90,123,000 after acquiring an additional 197,558 shares during the period. 80.76% of the stock is 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.