Bank of America Cuts Airbnb (NASDAQ:ABNB) Price Target to $132.00

Airbnb (NASDAQ:ABNB) had its price target lowered by equities researchers at Bank of America from $160.00 to $132.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 18.11% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird dropped their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. Wedbush reduced their price target on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial raised their price objective on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Finally, Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of Airbnb in a report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $140.93.

Airbnb Price Performance

ABNB stock traded down $18.71 during trading on Wednesday, hitting $111.76. The company had a trading volume of 22,356,664 shares, compared to its average volume of 4,534,222. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $146.33 and a two-hundred day moving average price of $152.15. Airbnb has a fifty-two week low of $110.42 and a fifty-two week high of $170.10. The company has a market cap of $71.98 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Equities research analysts expect that Airbnb will post 4.66 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aristotle N. Balogh 600 shares of Airbnb stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Aristotle N. Balogh 600 shares of Airbnb stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold 734,892 shares of company stock worth $109,326,124 over the last quarter. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of institutional investors have recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC acquired a new position in Airbnb during the first quarter worth approximately $25,000. Bfsg LLC acquired a new stake in Airbnb during the 4th quarter valued at $27,000. Trust Co. of Vermont acquired a new position in shares of Airbnb in the fourth quarter valued at $27,000. New Millennium Group LLC acquired a new position in Airbnb in the 2nd quarter valued at about $28,000. Finally, Vima LLC bought a new position in shares of Airbnb during the fourth quarter worth approximately $29,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.