Airbnb (NASDAQ:ABNB – Get Rating) had its price objective cut by analysts at Canaccord Genuity Group from $200.00 to $175.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 46.79% from the company’s previous close.
Several other brokerages also recently commented on ABNB. Credit Suisse Group lifted their target price on Airbnb from $185.00 to $190.00 in a report on Wednesday, May 4th. Citigroup dropped their price objective on Airbnb from $200.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. The Goldman Sachs Group dropped their price objective on Airbnb from $150.00 to $95.00 and set a “sell” rating on the stock in a research note on Thursday, June 9th. JPMorgan Chase & Co. dropped their price objective on Airbnb from $185.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Finally, HSBC dropped their price objective on Airbnb from $233.00 to $213.00 in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $158.97.
Airbnb Stock Up 3.7 %
Shares of ABNB opened at $119.22 on Wednesday. The company has a market capitalization of $76.64 billion, a PE ratio of 65.15, a PEG ratio of 3.30 and a beta of 1.23. Airbnb has a 12 month low of $86.71 and a 12 month high of $212.58. The stock’s 50-day moving average price is $104.75 and its two-hundred day moving average price is $136.22. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.42.
Insiders Place Their Bets
In other Airbnb news, CTO Aristotle N. Balogh sold 2,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $110.00, for a total value of $275,000.00. Following the completion of the sale, the chief technology officer now directly owns 258,703 shares of the company’s stock, valued at $28,457,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 2,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $110.00, for a total value of $275,000.00. Following the completion of the sale, the chief technology officer now directly owns 258,703 shares of the company’s stock, valued at $28,457,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Gebbia sold 15,523 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $106.01, for a total value of $1,645,593.23. Following the completion of the sale, the insider now directly owns 200,552 shares of the company’s stock, valued at $21,260,517.52. The disclosure for this sale can be found here. Insiders sold 598,934 shares of company stock valued at $59,771,495 over the last ninety days. 32.69% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Airbnb
A number of large investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in shares of Airbnb by 6.9% in the first quarter. Jennison Associates LLC now owns 15,345,417 shares of the company’s stock worth $2,635,729,000 after acquiring an additional 996,378 shares during the period. Capital Research Global Investors boosted its holdings in shares of Airbnb by 23.4% in the first quarter. Capital Research Global Investors now owns 13,837,492 shares of the company’s stock worth $2,376,753,000 after acquiring an additional 2,627,359 shares during the period. Polen Capital Management LLC boosted its holdings in shares of Airbnb by 30.5% in the first quarter. Polen Capital Management LLC now owns 12,953,525 shares of the company’s stock worth $2,224,897,000 after acquiring an additional 3,029,742 shares during the period. BlackRock Inc. boosted its holdings in shares of Airbnb by 17.7% in the fourth quarter. BlackRock Inc. now owns 8,587,605 shares of the company’s stock worth $1,429,753,000 after acquiring an additional 1,292,367 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Airbnb by 29.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,587,938 shares of the company’s stock worth $597,356,000 after acquiring an additional 813,738 shares during the period. 34.66% of the stock is owned by 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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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