UBS Group Lowers Airbnb (NASDAQ:ABNB) Price Target to $148.00

Airbnb (NASDAQ:ABNB) had its price objective dropped by equities research analysts at UBS Group from $156.00 to $148.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 22.29% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Royal Bank Of Canada increased their price target on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a report on Thursday. Canaccord Genuity Group decreased their price target on Airbnb from $190.00 to $180.00 and set a “buy” rating for the company in a report on Monday, April 28th. Benchmark cut their price objective on shares of Airbnb from $178.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, B. Riley cut their price objective on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.59.

Airbnb Trading Up 0.8%

Shares of Airbnb stock opened at $121.02 on Thursday. The business has a 50-day moving average price of $134.96 and a two-hundred day moving average price of $130.98. Airbnb has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market cap of $75.81 billion, a P/E ratio of 29.30, a PEG ratio of 2.22 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the business posted $0.86 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the sale, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the sale, the director owned 1,180,015 shares of the company’s stock, valued at approximately $164,494,091. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. 27.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after buying an additional 604,120 shares during the last quarter. Harris Associates L P increased its stake in Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Geode Capital Management LLC increased its stake in Airbnb by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after buying an additional 145,788 shares during the last quarter. Northern Trust Corp increased its stake in Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after buying an additional 106,135 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.