Airbnb (NASDAQ:ABNB) Given New $160.00 Price Target at Jefferies Financial Group

Airbnb (NASDAQ:ABNB) had its price objective decreased by equities research analysts at Jefferies Financial Group from $165.00 to $160.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 32.21% from the stock’s previous close.

ABNB has been the subject of a number of other reports. DA Davidson upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and cut their target price for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. Wedbush cut their target price on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Airbnb from $111.00 to $110.00 and set an “underweight” rating for the company in a research report on Thursday. Piper Sandler cut their target price on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a “market perform” rating in a research report on Thursday. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $142.72.

Airbnb Price Performance

ABNB opened at $121.02 on Monday. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company’s 50-day moving average is $134.96 and its 200 day moving average is $130.95. The firm has a market capitalization of $75.81 billion, a P/E ratio of 29.30, a PEG ratio of 2.19 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, equities research analysts expect that Airbnb will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total value of $826,750.00. Following the transaction, the chief financial officer owned 467,611 shares in the company, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the transaction, the director owned 1,180,015 shares in the company, valued at $164,494,091. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. 27.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management boosted its holdings in Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after acquiring an additional 484 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock valued at $6,115,000 after acquiring an additional 228 shares in the last quarter. Spire Wealth Management boosted its holdings in Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company’s stock valued at $109,000 after acquiring an additional 260 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Airbnb by 366.3% in the first quarter. Golden State Wealth Management LLC now owns 886 shares of the company’s stock valued at $106,000 after acquiring an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Airbnb by 39.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock valued at $8,750,000 after acquiring an additional 20,753 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

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.