Citigroup Cuts Airbnb (NASDAQ:ABNB) Price Target to $140.00

Airbnb (NASDAQ:ABNBGet Rating) had its price target trimmed by Citigroup from $160.00 to $140.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler dropped their price objective on Airbnb from $194.00 to $174.00 in a report on Wednesday, May 4th. Truist Financial dropped their price objective on Airbnb from $160.00 to $120.00 and set a hold rating on the stock in a report on Thursday, July 14th. JPMorgan Chase & Co. dropped their price objective on Airbnb from $185.00 to $110.00 and set a neutral rating on the stock in a report on Wednesday, June 29th. Stifel Nicolaus dropped their price objective on Airbnb from $205.00 to $180.00 in a report on Wednesday, May 4th. Finally, DA Davidson dropped their price objective on Airbnb from $210.00 to $140.00 and set a buy rating on the stock in a report on Wednesday. One investment 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, Airbnb has a consensus rating of Hold and a consensus price target of $158.97.

Airbnb Price Performance

Shares of ABNB opened at $117.11 on Wednesday. The company has a market capitalization of $75.29 billion, a price-to-earnings ratio of 63.99, a P/E/G ratio of 2.92 and a beta of 1.23. Airbnb has a fifty-two week low of $86.71 and a fifty-two week high of $212.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.58 and a quick ratio of 1.61. The business’s 50-day moving average is $104.85 and its 200-day moving average is $135.91.

Airbnb (NASDAQ:ABNBGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business posted ($0.11) EPS. Equities research analysts expect that Airbnb will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 2,500 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $89.09, for a total value of $222,725.00. Following the completion of the transaction, the chief technology officer now directly owns 263,703 shares of the company’s stock, valued at $23,493,300.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 2,500 shares of Airbnb stock in a transaction on Friday, July 1st. The stock was sold at an average price of $89.09, for a total transaction of $222,725.00. Following the completion of the transaction, the chief technology officer now directly owns 263,703 shares of the company’s stock, valued at $23,493,300.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Gebbia sold 250,000 shares of Airbnb stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $95.32, for a total value of $23,830,000.00. Following the transaction, the insider now directly owns 2,750,101 shares of the company’s stock, valued at $262,139,627.32. The disclosure for this sale can be found here. Insiders sold a total of 598,934 shares of company stock valued at $59,771,495 over the last ninety days. 32.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABNB. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Airbnb during the fourth quarter valued at $25,000. City State Bank acquired a new stake in shares of Airbnb in the fourth quarter valued at $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Airbnb in the fourth quarter valued at $26,000. Elequin Capital LP acquired a new stake in shares of Airbnb in the first quarter valued at $27,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Airbnb in the fourth quarter valued at $28,000. 34.66% of the stock is owned by institutional investors.

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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