Robert W. Baird cut shares of Airbnb (NASDAQ:ABNB – Get Rating) from an outperform rating to a neutral rating in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has $100.00 price target on the stock, down from their previous price target of $120.00.
A number of other research firms have also issued reports on ABNB. Citigroup reduced their target price on Airbnb from $160.00 to $140.00 and set a buy rating for the company in a report on Wednesday, August 3rd. Jefferies Financial Group reduced their target price on Airbnb from $140.00 to $138.00 and set a buy rating for the company in a report on Thursday, October 6th. KeyCorp reduced their target price on Airbnb from $145.00 to $142.00 and set an overweight rating for the company in a report on Wednesday, November 2nd. Piper Sandler reduced their target price on Airbnb from $121.00 to $110.00 and set a neutral rating for the company in a report on Tuesday, November 1st. Finally, Susquehanna Bancshares reduced their target price on Airbnb from $150.00 to $135.00 and set a positive rating for the company in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Airbnb presently has an average rating of Hold and an average price target of $141.70.
Airbnb Price Performance
Shares of NASDAQ:ABNB opened at $95.28 on Tuesday. Airbnb has a one year low of $86.71 and a one year high of $191.73. The stock has a fifty day moving average of $109.09 and a 200-day moving average of $109.84. The company has a market capitalization of $61.21 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 1.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85.
Insiders Place Their Bets
Institutional Investors Weigh In On Airbnb
Hedge funds and other institutional investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd acquired a new stake in Airbnb during the first quarter worth about $1,988,000. Avantax Advisory Services Inc. grew its position in Airbnb by 161.4% during the second quarter. Avantax Advisory Services Inc. now owns 5,329 shares of the company’s stock worth $475,000 after buying an additional 3,290 shares in the last quarter. Scotia Capital Inc. grew its position in Airbnb by 3.8% during the second quarter. Scotia Capital Inc. now owns 88,526 shares of the company’s stock worth $7,886,000 after buying an additional 3,256 shares in the last quarter. First Foundation Advisors grew its position in Airbnb by 19.5% during the first quarter. First Foundation Advisors now owns 2,842 shares of the company’s stock worth $488,000 after buying an additional 464 shares in the last quarter. Finally, Quent Capital LLC grew its position in Airbnb by 368.4% during the first quarter. Quent Capital LLC now owns 890 shares of the company’s stock worth $153,000 after buying an additional 700 shares in the last quarter. 39.45% of the stock is owned by institutional investors and hedge funds.
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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