Airbnb (NASDAQ:ABNB) Given New $103.00 Price Target at Barclays

Airbnb (NASDAQ:ABNB) had its target price reduced by equities researchers at Barclays from $120.00 to $103.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 17.77% from the stock’s current price.

ABNB has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Friday. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and boosted their price target for the company from $110.00 to $153.00 in a research note on Friday, February 14th. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley raised their target price on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a report on Thursday, April 17th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $143.97.

Airbnb Stock Performance

Shares of ABNB stock opened at $125.26 on Friday. Airbnb has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a market capitalization of $78.98 billion, a P/E ratio of 30.33, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $123.16 and its two-hundred day moving average is $131.55.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $141.93, for a total transaction of $30,413,470.05. Following the completion of the sale, the director now directly owns 428,575 shares in the company, valued at approximately $60,827,649.75. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the sale, the insider now owns 164,850 shares in the company, valued at approximately $26,046,300. The trade was a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,998,846 shares of company stock worth $272,488,196 in the last three months. Insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Airbnb during the 4th quarter valued at $25,000. Berbice Capital Management LLC acquired a new position in shares of Airbnb during the 4th quarter valued at about $26,000. Park Square Financial Group LLC purchased a new position in Airbnb during the fourth quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the fourth quarter valued at $28,000. Finally, Stonebridge Financial Group LLC grew its holdings in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after purchasing an additional 106 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.