Airbnb (NASDAQ:ABNB – Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $130.00 to $118.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.78% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 18th. Truist Financial increased their price objective on shares of Airbnb from $116.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. Melius began coverage on shares of Airbnb in a research report on Monday, July 31st. They issued a “neutral” rating and a $160.00 price objective on the stock. Tigress Financial reissued a “buy” rating and issued a $185.00 price objective on shares of Airbnb in a research report on Tuesday, August 22nd. Finally, Evercore ISI increased their price objective on shares of Airbnb from $145.00 to $168.00 in a research report on Friday, August 4th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $142.97.
View Our Latest Stock Report on Airbnb
Airbnb Stock Up 6.2 %
Airbnb (NASDAQ:ABNB – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.21. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Airbnb had a net margin of 56.87% and a return on equity of 50.16%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. Analysts forecast that Airbnb will post 3.8 earnings per share for the current fiscal year.
Insider Buying and Selling at Airbnb
In other Airbnb news, Director Joseph Gebbia sold 166,667 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $125.30, for a total value of $20,883,375.10. Following the completion of the sale, the director now directly owns 1,500,102 shares in the company, valued at $187,962,780.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Airbnb news, CAO David C. Bernstein sold 13,814 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $136.55, for a total value of $1,886,301.70. Following the completion of the sale, the chief accounting officer now directly owns 45,013 shares in the company, valued at $6,146,525.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 166,667 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $125.30, for a total transaction of $20,883,375.10. Following the completion of the sale, the director now owns 1,500,102 shares of the company’s stock, valued at $187,962,780.60. The disclosure for this sale can be found here. Insiders sold a total of 656,623 shares of company stock worth $88,883,880 over the last three months. Corporate insiders own 30.84% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of Airbnb by 7.2% in the second quarter. Capital Research Global Investors now owns 16,417,581 shares of the company’s stock worth $2,104,044,000 after buying an additional 1,103,413 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Airbnb by 5.0% in the first quarter. Jennison Associates LLC now owns 8,971,146 shares of the company’s stock worth $1,116,011,000 after buying an additional 429,772 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Airbnb by 6.1% in the second quarter. Geode Capital Management LLC now owns 4,737,415 shares of the company’s stock worth $606,712,000 after buying an additional 273,316 shares during the last quarter. Norges Bank purchased a new position in shares of Airbnb in the fourth quarter worth $332,438,000. Finally, Northern Trust Corp raised its holdings in shares of Airbnb by 4.4% in the second quarter. Northern Trust Corp now owns 3,087,255 shares of the company’s stock worth $395,663,000 after buying an additional 130,756 shares during the last quarter. Hedge funds and other institutional investors own 44.19% 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 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.
Read More
- Five stocks we like better than Airbnb
- How to Find Undervalued Stocks
- Shocking uranium play that hedge funds kept hidden
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Dependable dividends: Why utility stocks are on fire
- What is a Low P/E Ratio and What Does it Tell Investors?
- Realtor verdict, poor revenue guidance send Zillow stock plunging
Receive News & Ratings for Airbnb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Airbnb and related companies with MarketBeat.com's FREE daily email newsletter.
