Truist Financial Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its target price cut by Truist Financial from $124.00 to $123.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada cut their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. UBS Group raised their price target on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America reissued a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Finally, Piper Sandler lifted their target price on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.94.

Airbnb Stock Up 0.4 %

Airbnb stock opened at $136.92 on Wednesday. The stock’s fifty day moving average is $134.75 and its two-hundred day moving average is $135.16. The stock has a market cap of $86.80 billion, a PE ratio of 47.83, a P/E/G ratio of 1.95 and a beta of 1.13. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, sell-side analysts expect that Airbnb will post 4.02 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. The trade was a 0.31 % 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 this link. Also, CEO Brian Chesky sold 230,769 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 748,465 shares of company stock valued at $96,015,340 in the last quarter. 27.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Airbnb during the 3rd quarter worth about $34,982,000. J.W. Cole Advisors Inc. grew its holdings in shares of Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after buying an additional 2,132 shares in the last quarter. Shellback Capital LP acquired a new position in shares of Airbnb in the second quarter valued at approximately $22,744,000. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after buying an additional 19,183 shares during the period. Finally, Infusive Asset Management Inc. acquired a new stake in Airbnb during the third quarter worth approximately $1,769,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

About Airbnb

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.