Airbnb (NASDAQ:ABNB) Price Target Raised to $130.00

Airbnb (NASDAQ:ABNB - Get Free Report) had its price target boosted by Morgan Stanley from $125.00 to $130.00 in a report released on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Morgan Stanley's target price points to a potential downside of 6.21% from the stock's current price.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Airbnb from $104.00 to $111.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Canaccord Genuity Group dropped their price target on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Friday, May 9th. Finally, Wedbush lowered Airbnb from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $141.50.

Airbnb Trading Down 0.5%

Airbnb stock traded down $0.74 during trading on Monday, reaching $138.60. The company had a trading volume of 703,430 shares, compared to its average volume of 5,022,378. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93. The firm's 50-day simple moving average is $134.35 and its 200 day simple moving average is $130.79. The firm has a market capitalization of $86.82 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 2.61 and a beta of 1.13.

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

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $137.21, for a total value of $82,326.00. Following the transaction, the chief technology officer owned 210,977 shares in the company, valued at $28,948,154.17. This trade represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $136.40, for a total transaction of $32,190,400.00. Following the completion of the transaction, the director owned 708,015 shares in the company, valued at $96,573,246. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,629,043 shares of company stock worth $210,678,753. 27.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kentucky Trust Co bought a new position in Airbnb in the 2nd quarter worth $25,000. Park Square Financial Group LLC bought a new position in Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC bought a new position in Airbnb in the 4th quarter worth $28,000. Stonebridge Financial Group LLC raised 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 acquiring an additional 106 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after acquiring an additional 174 shares during the period. Hedge funds and other 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.

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