Citigroup Lowers Airbnb (NASDAQ:ABNB) Price Target to $167.00

Airbnb (NASDAQ:ABNB) had its price objective lowered by equities researchers at Citigroup from $170.00 to $167.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 13.57% from the stock’s previous close.

A number of other analysts have also commented on ABNB. TD Cowen lowered their target price on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler Companies upped their price target on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada upped their price objective on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. B. Riley Financial assumed coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $151.91.

Airbnb Stock Performance

ABNB traded down $10.85 on Thursday, hitting $147.05. 14,791,206 shares of the stock traded hands, compared to its average volume of 4,584,189. The business has a fifty day moving average price of $161.68 and a two-hundred day moving average price of $145.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $95.15 billion, a PE ratio of 20.34, a P/E/G ratio of 2.12 and a beta of 1.24. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. On average, research analysts predict that Airbnb will post 4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 75,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now directly owns 146,131 shares in the company, valued at approximately $22,695,605.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 50,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $164.00, for a total transaction of $8,200,000.00. Following the completion of the transaction, the chief technology officer now owns 145,531 shares of the company’s stock, valued at $23,867,084. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the sale, the chief technology officer now directly owns 146,131 shares in the company, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,874 shares of company stock worth $63,712,671. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of large investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA increased its stake in Airbnb by 34.7% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock valued at $4,304,000 after purchasing an additional 8,140 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Airbnb by 4.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares during the period. Nordea Investment Management AB increased its holdings in Airbnb by 27.5% in the fourth quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock valued at $172,742,000 after buying an additional 273,191 shares in the last quarter. LGT Group Foundation grew its holdings in shares of Airbnb by 8.1% in the 3rd quarter. LGT Group Foundation now owns 316,545 shares of the company’s stock worth $43,227,000 after acquiring an additional 23,716 shares during the period. Finally, Cerity Partners LLC raised its holdings in Airbnb by 14.4% during the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after purchasing an additional 12,008 shares during the last quarter. 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.