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

Airbnb (NASDAQ:ABNB - Get Free Report) had its price objective cut by investment analysts at Benchmark from $178.00 to $155.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price target would indicate a potential upside of 24.95% from the company's current price.

Several other research firms have also weighed in on ABNB. Barclays lowered their target price on shares of Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday. B. Riley raised their target price on shares of Airbnb from $131.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. UBS Group cut their price target on Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday. JMP Securities restated a "market perform" rating on shares of Airbnb in a research note on Friday. Finally, Jefferies Financial Group raised shares of Airbnb from a "hold" rating to a "buy" rating and boosted their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Airbnb presently has an average rating of "Hold" and an average price target of $143.38.

Airbnb Stock Up 0.0 %

NASDAQ ABNB traded up $0.04 during trading hours on Friday, reaching $124.05. 4,234,135 shares of the company traded hands, compared to its average volume of 4,863,963. The stock has a market capitalization of $78.22 billion, a PE ratio of 30.06, a PEG ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb has a 12 month low of $99.88 and a 12 month high of $165.50. The company has a 50 day moving average of $123.48 and a two-hundred day moving average of $131.63.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly 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). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts expect that Airbnb will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 38,461 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $129.87, for a total value of $4,994,930.07. Following the completion of the sale, the chief executive officer now owns 12,421,986 shares of the company's stock, valued at $1,613,243,321.82. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now directly owns 2,294,870 shares in the company, valued at $249,590,061.20. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,998,846 shares of company stock worth $272,488,196 over the last ninety days. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently made changes to their positions in ABNB. Golden State Wealth Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Airbnb during the fourth quarter worth $26,000. Park Square Financial Group LLC acquired a new stake in Airbnb during the fourth quarter valued at $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the fourth quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.