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

by · The Markets Daily

Airbnb (NASDAQ:ABNB – Free Report) had its price target boosted by Wells Fargo & Company from $100.00 to $102.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Other analysts have also issued reports about the company. Truist Financial decreased their price target on Airbnb from $134.00 to $124.00 and set a hold rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Airbnb from $145.00 to $121.00 and set a neutral rating for the company in a research note on Wednesday, August 7th. Wedbush lowered their price target on Airbnb from $165.00 to $135.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Morgan Stanley increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock an underweight rating in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein dropped their target price on Airbnb from $174.00 to $155.00 and set an outperform rating on the stock in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb has a consensus rating of Hold and an average price target of $134.23.

View Our Latest Stock Report on ABNB

Airbnb Stock Down 2.0 %

Shares of NASDAQ:ABNB opened at $132.81 on Tuesday. The firm has a 50 day simple moving average of $121.50 and a 200-day simple moving average of $141.37. The company has a market capitalization of $85.54 billion, a PE ratio of 17.78, a P/E/G ratio of 1.72 and a beta of 1.17. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings data 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 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Airbnb will post 4.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 563,496 shares of company stock worth $74,262,814. 27.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Airbnb in the 1st quarter valued at about $7,628,000. SteelPeak Wealth LLC raised its stake in Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after acquiring an additional 985 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after purchasing an additional 83,383 shares during the period. Shellback Capital LP purchased a new stake in shares of Airbnb in the 2nd quarter valued at $22,744,000. Finally, State of Tennessee Treasury Department boosted its holdings in Airbnb by 35.8% in the fourth 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 last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Airbnb

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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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