Wedbush Lowers Airbnb (NASDAQ:ABNB) Price Target to $130.00

Airbnb (NASDAQ:ABNB) had its target price cut by stock analysts at Wedbush from $135.00 to $130.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price points to a potential upside of 7.20% from the stock’s previous close.

A number of other research firms have also recently commented on ABNB. Citizens Jmp upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research note on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Airbnb in a research report on Wednesday, January 14th. KeyCorp started coverage on shares of Airbnb in a research note on Thursday, October 23rd. They issued a “sector weight” rating on the stock. BTIG Research restated a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. Finally, BNP Paribas Exane began coverage on Airbnb in a research note on Monday, November 24th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $148.85.

Airbnb Stock Down 2.7%

Airbnb stock opened at $121.27 on Friday. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93. The company’s 50 day moving average price is $131.22 and its two-hundred day moving average price is $127.10. The stock has a market cap of $74.65 billion, a P/E ratio of 28.81, a P/E/G ratio of 1.93 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Airbnb will post 4.31 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the sale, the director owned 232,015 shares of the company’s stock, valued at approximately $27,994,929.90. This represents a 50.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the transaction, the chief executive officer directly owned 45,854 shares in the company, valued at approximately $6,014,210.64. The trade was a 52.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,206,022 shares of company stock worth $148,582,096 in the last quarter. 27.91% of the stock is owned by company insiders.

Institutional Trading of Airbnb

A number of hedge funds have recently bought and sold shares of ABNB. Handelsbanken Fonder AB grew its holdings in shares of Airbnb by 14.0% during the 4th quarter. Handelsbanken Fonder AB now owns 172,611 shares of the company’s stock valued at $23,427,000 after purchasing an additional 21,138 shares during the last quarter. Integral Investment Advisors Inc. lifted its holdings in Airbnb by 7.2% in the 4th quarter. Integral Investment Advisors Inc. now owns 1,798 shares of the company’s stock worth $244,000 after buying an additional 120 shares during the period. Capstone Capital Management Ltd bought a new position in Airbnb in the 4th quarter worth $686,000. Profund Advisors LLC lifted its holdings in Airbnb by 0.9% in the fourth quarter. Profund Advisors LLC now owns 55,264 shares of the company’s stock worth $7,500,000 after buying an additional 494 shares during the period. Finally, ProShare Advisors LLC grew its stake in Airbnb by 37.4% in the fourth quarter. ProShare Advisors LLC now owns 739,600 shares of the company’s stock worth $100,379,000 after purchasing an additional 201,335 shares during the period. Institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.