Airbnb (NASDAQ:ABNB) Given New $170.00 Price Target at TD Cowen

Airbnb (NASDAQ:ABNB) had its price objective lowered by TD Cowen from $180.00 to $170.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 15.38% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $200.00 in a research note on Wednesday, April 24th. Susquehanna boosted their price target on shares of Airbnb from $160.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, February 14th. Bank of America increased their price target on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Piper Sandler Companies raised their price objective on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Tigress Financial upped their price objective on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $151.55.

Airbnb Trading Down 6.7 %

Airbnb stock traded down $10.56 during midday trading on Thursday, reaching $147.34. The stock had a trading volume of 9,134,040 shares, compared to its average volume of 4,518,218. The firm’s fifty day simple moving average is $161.68 and its two-hundred day simple moving average is $145.50. The firm has a market cap of $95.34 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.12 and a beta of 1.24. Airbnb has a twelve month low of $103.55 and a twelve month high of $170.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Airbnb will post 4.47 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 78,682 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the completion of the sale, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the completion of the transaction, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Insiders sold a total of 396,874 shares of company stock worth $63,712,671 in the last three months. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several hedge funds have recently added to or reduced their stakes in ABNB. CVA Family Office LLC purchased a new position in shares of Airbnb during the fourth quarter worth approximately $26,000. Trust Co. of Vermont acquired a new stake in Airbnb in the fourth quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in Airbnb in the third quarter valued at $27,000. Bfsg LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at approximately $27,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Airbnb in the first quarter valued at $33,000. 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.