Wells Fargo & Company Increases Airbnb (NASDAQ:ABNB) Price Target to $102.00

by · The Cerbat Gem

Airbnb (NASDAQ:ABNB – Get Free Report) had its price target upped by Wells Fargo & Company from $100.00 to $102.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 24.72% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. B. Riley reduced their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Mizuho lowered their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. The Goldman Sachs Group reduced their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler decreased their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus target price of $134.23.

Get Our Latest Stock Analysis on ABNB

Airbnb Trading Up 2.3 %

Shares of ABNB opened at $135.49 on Tuesday. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market capitalization of $87.26 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $121.63 and its 200 day simple moving average is $141.47.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion for 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 business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, equities research analysts forecast that Airbnb will post 4.39 earnings per share for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total value of $89,082.00. Following the transaction, the chief technology officer now directly owns 207,574 shares in the company, valued at approximately $30,818,511.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $148.47, for a total value of $89,082.00. Following the sale, the chief technology officer now owns 207,574 shares in the company, valued at $30,818,511.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 562,896 shares of company stock worth $74,184,724. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABNB. Ossiam boosted its holdings in shares of Airbnb by 50.8% during the fourth quarter. Ossiam now owns 8,621 shares of the company’s stock valued at $1,174,000 after acquiring an additional 2,906 shares during the period. State of Tennessee Treasury Department boosted its stake in Airbnb by 35.8% during the 4th quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock valued at $19,503,000 after purchasing an additional 37,785 shares during the period. Cresset Asset Management LLC grew its position in Airbnb by 14.9% in the 4th quarter. Cresset Asset Management LLC now owns 90,658 shares of the company’s stock worth $12,342,000 after purchasing an additional 11,759 shares during the last quarter. Power Corp of Canada increased its stake in shares of Airbnb by 6.6% in the fourth quarter. Power Corp of Canada now owns 39,326 shares of the company’s stock valued at $5,354,000 after purchasing an additional 2,436 shares during the period. Finally, Fullerton Fund Management Co Ltd. bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $14,872,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Company Profile

(Get Free Report)

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.

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