Wells Fargo & Company Issues Positive Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB - Free Report) had its target price raised by Wells Fargo & Company from $104.00 to $111.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

ABNB has been the topic of a number of other research reports. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Piper Sandler lowered their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Tigress Financial boosted their target price on shares of Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $141.47.

Airbnb Stock Down 0.0%

ABNB traded down $0.01 during trading on Monday, hitting $136.99. The company had a trading volume of 3,143,501 shares, compared to its average volume of 5,036,546. The firm's 50-day moving average price is $132.24 and its 200 day moving average price is $130.57. The company has a market capitalization of $85.81 billion, a PE ratio of 34.59, a PEG ratio of 2.57 and a beta of 1.13. Airbnb has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $0.41 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer directly owned 40,800 shares in the company, valued at approximately $5,235,864. This represents a 16.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the sale, the director directly owned 1,416,015 shares in the company, valued at $182,184,489.90. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,393,143 shares of company stock worth $178,387,178 over the last quarter. 27.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC increased its holdings in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after buying an additional 174 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in shares of Airbnb in the fourth quarter worth $32,000. 80.76% of the stock is currently owned by institutional investors.

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.