Piper Sandler Lowers Airbnb (NASDAQ:ABNB) Price Target to $121.00

Airbnb (NASDAQ:ABNBGet Rating) had its target price lowered by Piper Sandler from $174.00 to $121.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on ABNB. Wolfe Research cut their price objective on Airbnb from $130.00 to $110.00 and set a peer perform rating for the company in a research report on Wednesday, June 15th. Susquehanna cut their price objective on Airbnb from $190.00 to $150.00 and set a positive rating for the company in a research report on Wednesday. Royal Bank of Canada cut their price objective on Airbnb from $175.00 to $115.00 and set a sector perform rating for the company in a research report on Wednesday. Barclays cut their price objective on Airbnb from $185.00 to $170.00 in a research report on Wednesday, May 4th. Finally, Citigroup cut their price objective on Airbnb from $160.00 to $140.00 and set a buy rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $158.97.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $117.11 on Wednesday. The stock has a 50 day moving average price of $104.85 and a 200 day moving average price of $135.91. Airbnb has a 52 week low of $86.71 and a 52 week high of $212.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.61 and a current ratio of 1.58. The stock has a market capitalization of $75.29 billion, a PE ratio of 63.99, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23.

Airbnb (NASDAQ:ABNBGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Airbnb had a return on equity of 26.03% and a net margin of 16.91%. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. Analysts predict that Airbnb will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Belinda J. Johnson sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $108.04, for a total value of $2,160,800.00. Following the sale, the director now owns 3,203 shares of the company’s stock, valued at approximately $346,052.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Belinda J. Johnson sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $108.04, for a total transaction of $2,160,800.00. Following the sale, the director now owns 3,203 shares of the company’s stock, valued at approximately $346,052.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Gebbia sold 250,000 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $100.28, for a total value of $25,070,000.00. Following the sale, the insider now directly owns 3,438,742 shares in the company, valued at approximately $344,837,047.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 598,934 shares of company stock valued at $59,771,495. 32.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of Airbnb by 6.9% during the 1st quarter. Jennison Associates LLC now owns 15,345,417 shares of the company’s stock valued at $2,635,729,000 after acquiring an additional 996,378 shares in the last quarter. Capital Research Global Investors lifted its holdings in Airbnb by 23.4% during the 1st quarter. Capital Research Global Investors now owns 13,837,492 shares of the company’s stock worth $2,376,753,000 after buying an additional 2,627,359 shares during the period. Polen Capital Management LLC lifted its holdings in Airbnb by 30.5% during the 1st quarter. Polen Capital Management LLC now owns 12,953,525 shares of the company’s stock worth $2,224,897,000 after buying an additional 3,029,742 shares during the period. BlackRock Inc. lifted its holdings in Airbnb by 17.7% during the 4th quarter. BlackRock Inc. now owns 8,587,605 shares of the company’s stock worth $1,429,753,000 after buying an additional 1,292,367 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Airbnb by 29.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,587,938 shares of the company’s stock worth $597,356,000 after buying an additional 813,738 shares during the period. Institutional investors and hedge funds own 34.66% of the company’s stock.

About Airbnb

(Get Rating)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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