Truist Financial Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price target decreased by analysts at Truist Financial from $123.00 to $112.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential downside of 11.22% from the company’s previous close.

A number of other research firms have also weighed in on ABNB. Wells Fargo & Company lowered their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and raised their target price for the company from $110.00 to $153.00 in a report on Friday, February 14th. Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. UBS Group raised their price objective on Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Hsbc Global Res raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $147.82.

Airbnb Trading Up 0.1 %

NASDAQ ABNB opened at $126.15 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The business has a 50 day moving average price of $135.74 and a 200-day moving average price of $133.10. The company has a market cap of $79.54 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, equities analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $133.58, for a total value of $5,137,620.38. Following the transaction, the chief executive officer now directly owns 12,537,369 shares in the company, valued at $1,674,741,751.02. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $126.00, for a total value of $88,200.00. Following the sale, the chief technology officer now owns 171,419 shares of the company’s stock, valued at approximately $21,598,794. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,094,370 shares of company stock worth $294,900,910 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently bought and sold shares of ABNB. Golden State Wealth Management LLC purchased a new position in shares of Airbnb during the fourth quarter worth approximately $25,000. Berbice Capital Management LLC bought a new stake in Airbnb in the fourth quarter worth $26,000. Park Square Financial Group LLC bought a new position in shares of Airbnb during the fourth quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the fourth quarter worth about $28,000. Finally, Graney & King LLC bought a new stake in shares of Airbnb in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.76% 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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.