Truist Financial Lowers Airbnb (NASDAQ:ABNB) Price Target to $124.00

Airbnb (NASDAQ:ABNB) had its price objective reduced by Truist Financial from $134.00 to $124.00 in a research report report published on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

ABNB has been the topic of several other research reports. Piper Sandler Companies boosted their target price on shares of Airbnb from $145.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Citigroup decreased their price objective on shares of Airbnb from $170.00 to $167.00 and set a buy rating on the stock in a research note on Thursday, May 9th. B. Riley dropped their price objective on shares of Airbnb from $150.00 to $140.00 and set a neutral rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on Airbnb from $130.00 to $111.00 and set a sell rating on the stock in a report on Thursday, August 8th. Finally, DA Davidson reaffirmed a neutral rating and set a $145.00 price target on shares of Airbnb in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $135.93.

Airbnb Stock Up 0.2 %

ABNB stock opened at $115.21 on Wednesday. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a market cap of $73.92 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18. The business’s 50-day simple moving average is $133.23 and its 200 day simple moving average is $147.51. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, research analysts anticipate that Airbnb will post 4.43 earnings per share for the current year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the sale, the director now owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $147.25, for a total value of $16,990,441.25. Following the completion of the sale, the chief executive officer now owns 14,145,072 shares of the company’s stock, valued at $2,082,861,852. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Insiders sold a total of 612,907 shares of company stock valued at $91,473,471 over the last ninety days. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several large investors have recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in shares of Airbnb during the first quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of Airbnb during the fourth quarter worth $27,000. New Millennium Group LLC bought a new stake in shares of Airbnb during the second quarter worth $28,000. Vima LLC bought a new stake in shares of Airbnb during the fourth quarter worth $29,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Airbnb during the second quarter worth $30,000. Institutional investors own 80.76% of the company’s stock.

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.