Mizuho Lowers Airbnb (NASDAQ:ABNB) Price Target to $170.00

Airbnb (NASDAQ:ABNB) had its price target dropped by equities researchers at Mizuho from $175.00 to $170.00 in a research report issued on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 44.37% from the company’s current price.

Several other brokerages have also commented on ABNB. Morgan Stanley boosted their price objective on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. UBS Group cut their target price on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $133.45.

Airbnb Stock Up 0.3 %

Shares of NASDAQ ABNB opened at $117.75 on Friday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $75.84 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.54 and a beta of 1.16. The business has a 50-day moving average of $128.14 and a 200-day moving average of $145.79.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Airbnb will post 4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the transaction, the director now owns 42,087 shares in the company, valued at $6,313,050. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the transaction, the director now owns 42,087 shares in the company, valued at $6,313,050. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 449,932 shares of company stock worth $67,352,949. 27.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

A number of institutional investors have recently modified their holdings of the stock. Lazari Capital Management Inc. grew its stake in shares of Airbnb by 3.6% in the second quarter. Lazari Capital Management Inc. now owns 2,517 shares of the company’s stock worth $382,000 after acquiring an additional 88 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Airbnb during the second quarter valued at $7,342,000. New Century Financial Group LLC purchased a new stake in shares of Airbnb during the second quarter valued at $238,000. Aristides Capital LLC boosted its position in shares of Airbnb by 11.2% during the second quarter. Aristides Capital LLC now owns 9,950 shares of the company’s stock valued at $1,509,000 after buying an additional 1,000 shares during the last quarter. Finally, Garde Capital Inc. boosted its position in shares of Airbnb by 903.7% during the second quarter. Garde Capital Inc. now owns 7,287 shares of the company’s stock valued at $1,105,000 after buying an additional 6,561 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.