Truist Financial Lowers Airbnb (NASDAQ:ABNB) Price Target to $112.00

Airbnb (NASDAQ:ABNB) had its price objective reduced by equities research analysts at Truist Financial from $123.00 to $112.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 13.04% from the stock’s current price.

Other equities analysts have also issued reports about the company. Tigress Financial boosted their price objective on Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Bank of America boosted their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a research note on Tuesday, February 4th. Evercore ISI boosted their target price on Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Finally, Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $147.82.

Airbnb Price Performance

Airbnb stock opened at $128.80 on Friday. The firm has a market capitalization of $81.21 billion, a P/E ratio of 31.19, a PEG ratio of 3.52 and a beta of 1.10. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.00. The business has a 50-day moving average of $135.72 and a 200-day moving average of $133.30. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. On average, equities analysts anticipate that Airbnb will post 4.31 EPS for the current year.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $126.00, for a total value of $88,200.00. Following the transaction, the chief technology officer now owns 171,419 shares in the company, valued at $21,598,794. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,094,370 shares of company stock worth $294,900,910 in the last quarter. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several large investors have recently made changes to their positions in ABNB. Verde Capital Management grew its stake in shares of Airbnb by 25.3% during the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock valued at $2,775,000 after buying an additional 4,269 shares during the last quarter. Tri Ri Asset Management Corp purchased a new stake in Airbnb during the third quarter worth $6,352,000. Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Airbnb by 14.8% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock valued at $6,498,000 after purchasing an additional 6,357 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Airbnb by 40.5% in 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. Finally, Sarasin & Partners LLP acquired a new position in shares of Airbnb in the 4th quarter valued at $2,272,000. 80.76% of the stock is currently owned by hedge funds and other 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.