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

Airbnb (NASDAQ:ABNB) had its price objective lowered by equities research analysts at Truist Financial from $124.00 to $123.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 9.77% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on ABNB. TD Cowen upped their price objective on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein cut their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Wells Fargo & Company increased their target price on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Finally, 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. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $138.94.

Airbnb Stock Down 2.0 %

Shares of NASDAQ:ABNB opened at $136.32 on Wednesday. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a fifty day moving average of $134.61 and a 200 day moving average of $135.15. The firm has a market capitalization of $86.42 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last announced its 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). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, research analysts anticipate that Airbnb will post 4.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief financial officer now owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 748,465 shares of company stock worth $96,015,340. 27.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABNB. Tri Ri Asset Management Corp purchased a new stake in shares of Airbnb in the 3rd quarter worth $6,352,000. Wilmington Savings Fund Society FSB bought a new position in shares of Airbnb in the third quarter worth about $648,000. Virtu Financial LLC purchased a new position in shares of Airbnb during the 3rd quarter valued at about $609,000. Advisory Resource Group grew its stake in shares of Airbnb by 25.7% during the 3rd quarter. Advisory Resource Group now owns 10,434 shares of the company’s stock valued at $1,323,000 after acquiring an additional 2,131 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in Airbnb by 22.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,123 shares of the company’s stock worth $1,157,000 after acquiring an additional 1,648 shares in the last quarter. 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.