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

Key Points

• Jefferies Financial Group has lowered its price target for Airbnb from $165.00 to $160.00, maintaining a "buy" rating, suggesting a potential upside of 32.21% from the stock's last close.
• Multiple other analysts have also revised their ratings and target prices on Airbnb, with the current consensus showing 16 hold ratings, 13 buy ratings, and an average target price of $142.72.
• Insider trading activity has been notable, with CFO Elinor Mertz and Director Joseph Gebbia selling substantial shares, indicating a 1.32% and 16.67% decrease in their ownership respectively.

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price decreased by stock analysts at Jefferies Financial Group from $165.00 to $160.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 28.37% from the company's current price.

ABNB has been the topic of several other research reports. Canaccord Genuity Group dropped their price target on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Wedbush decreased 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, August 7th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded up $0.09 during mid-day trading on Monday, hitting $124.64. 4,706,287 shares of the company traded hands, compared to its average volume of 5,339,913. The firm's 50 day simple moving average is $134.33 and its 200 day simple moving average is $130.78. The firm has a market cap of $78.08 billion, a P/E ratio of 30.18, a PEG ratio of 2.22 and a beta of 1.13. Airbnb has a 52-week low of $99.88 and a 52-week high of $163.93.

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

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the transaction, the director directly owned 1,180,015 shares of the company's stock, valued at approximately $164,494,091. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the company'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 transaction of $826,750.00. Following the completion of the transaction, the chief financial officer owned 467,611 shares in the company, valued at approximately $61,855,583.08. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,671,023 shares of company stock valued at $223,195,427. Company insiders own 27.91% of the company's stock.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently modified their holdings of the stock. Worldquant Millennium Advisors LLC raised its holdings in shares of Airbnb by 365.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 514,428 shares of the company's stock worth $68,079,000 after acquiring an additional 403,842 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Airbnb by 126.3% in the second quarter. Canada Pension Plan Investment Board now owns 189,048 shares of the company's stock valued at $25,019,000 after purchasing an additional 105,523 shares in the last quarter. Diversify Wealth Management LLC increased its position in Airbnb by 9.9% in the 2nd quarter. Diversify Wealth Management LLC now owns 39,728 shares of the company's stock worth $4,831,000 after purchasing an additional 3,588 shares during the last quarter. Diversify Advisory Services LLC raised its stake in shares of Airbnb by 9.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 19,544 shares of the company's stock worth $2,377,000 after purchasing an additional 1,727 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Airbnb by 6.4% during the 2nd quarter. Alliancebernstein L.P. now owns 534,117 shares of the company's stock valued at $70,685,000 after buying an additional 32,185 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other 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.