Wells Fargo & Company Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its target price cut by equities researchers at Wells Fargo & Company from $100.00 to $96.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 27.12% from the company’s current price.

A number of other analysts have also recently issued reports on ABNB. Raymond James began coverage on Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective for the company. Phillip Securities reiterated a “reduce” rating and set a $120.00 price target on shares of Airbnb in a report on Tuesday, November 12th. Susquehanna increased their price objective on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Truist Financial reduced their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Finally, Piper Sandler increased their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus price target of $139.63.

Airbnb Stock Down 0.6 %

NASDAQ:ABNB traded down $0.79 on Thursday, hitting $131.73. 467,799 shares of the company’s stock traded hands, compared to its average volume of 3,380,627. The company has a market cap of $83.51 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $134.62 and a 200-day moving average price of $132.22.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the company posted $2.39 EPS. Equities analysts anticipate that Airbnb will post 3.99 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the completion of the sale, the chief technology officer now directly owns 184,714 shares in the company, valued at approximately $25,001,039.90. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 41.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 915,997 shares of company stock worth $122,800,660. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Airbnb by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 788,487 shares of the company’s stock worth $119,558,000 after buying an additional 90,788 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after acquiring an additional 19,183 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Airbnb by 39.8% in the second quarter. Meiji Yasuda Life Insurance Co now owns 4,921 shares of the company’s stock worth $746,000 after acquiring an additional 1,400 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Airbnb by 35.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,780 shares of the company’s stock valued at $2,241,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Airbnb by 2.0% during the 2nd quarter. Amalgamated Bank now owns 94,210 shares of the company’s stock valued at $14,285,000 after purchasing an additional 1,860 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

About Airbnb

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.