Evercore ISI Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB - Free Report) had its price objective reduced by Evercore ISI from $165.00 to $145.00 in a report released on Friday morning,Benzinga reports. They currently have an in-line rating on the stock.

Several other research firms have also issued reports on ABNB. Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Argus upgraded Airbnb from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Benchmark increased their target price on shares of Airbnb from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Baird R W upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group raised Airbnb from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $110.00 to $153.00 in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $142.31.

Airbnb Price Performance

Shares of ABNB stock traded down $0.26 on Friday, hitting $121.41. 1,478,940 shares of the company's stock were exchanged, compared to its average volume of 4,896,236. The company has a 50 day moving average of $122.42 and a 200 day moving average of $131.37. The stock has a market cap of $76.55 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that Airbnb will post 4.31 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the sale, the chief executive officer now directly owns 12,000,913 shares of the company's stock, valued at $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $123.28, for a total transaction of $86,296.00. Following the transaction, the chief technology officer now directly owns 221,422 shares of the company's stock, valued at $27,296,904.16. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,953,435 shares of company stock worth $266,592,685 in the last three months. 27.83% of the stock is owned by company insiders.

Institutional Trading of Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in ABNB. Golden State Wealth Management LLC acquired a new position in Airbnb in the 4th quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new position in Airbnb during the fourth quarter valued at $26,000. Park Square Financial Group LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the 4th quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC boosted its holdings in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after buying an additional 106 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

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.