UBS Group Cuts Airbnb (NASDAQ:ABNB) Price Target to $134.00

Airbnb (NASDAQ:ABNB) had its price target reduced by equities research analysts at UBS Group from $160.00 to $134.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 18.06% from the stock’s previous close.

ABNB has been the subject of a number of other research reports. Susquehanna decreased their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research report on Wednesday. Mizuho raised shares of Airbnb from a “neutral” rating to a “buy” rating and increased their target price for the company from $150.00 to $200.00 in a research report on Wednesday, April 24th. DA Davidson restated a “neutral” rating and set a $145.00 price target on shares of Airbnb in a research note on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Wednesday. Finally, TD Cowen cut their price target on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus price target of $144.44.

Airbnb Stock Down 13.0 %

NASDAQ:ABNB traded down $16.97 during midday trading on Wednesday, reaching $113.50. 17,347,623 shares of the stock traded hands, compared to its average volume of 4,501,049. Airbnb has a 12-month low of $110.42 and a 12-month high of $170.10. The business has a 50-day moving average of $146.33 and a two-hundred day moving average of $152.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $73.10 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Airbnb will post 4.66 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Aristotle N. Balogh 600 shares of Airbnb stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 734,892 shares of company stock worth $109,326,124. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CHURCHILL MANAGEMENT Corp purchased a new position in Airbnb during the first quarter valued at $7,628,000. Rafferty Asset Management LLC lifted its stake in shares of Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after buying an additional 22,551 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Airbnb in the fourth quarter worth about $726,000. Cerity Partners LLC lifted its stake in shares of Airbnb by 14.4% in the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after buying an additional 12,008 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in shares of Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after buying an additional 985 shares in the last quarter. 80.76% of the stock is 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.