Citigroup Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB - Free Report) had its target price cut by Citigroup from $170.00 to $155.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group reduced their price objective on Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and raised their target price for the stock 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, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $141.43.

Airbnb Stock Performance

Shares of Airbnb stock traded up $0.67 during trading on Monday, hitting $127.06. 6,144,318 shares of the company's stock were exchanged, compared to its average volume of 4,859,217. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $80.12 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.52 and a beta of 1.14. The business has a 50-day simple moving average of $121.52 and a 200-day simple moving average of $131.18. Airbnb has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share 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 analysts' expectations of $2.26 billion. During the same quarter last year, the company earned $0.41 EPS. Airbnb's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Airbnb will post 4.31 EPS for the current year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 183,078 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares of the company's stock, valued at approximately $26,046,300. This represents a 52.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total transaction of $112,735.00. Following the completion of the transaction, the chief technology officer now owns 180,514 shares of the company's stock, valued at $29,071,779.70. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,173,970 shares of company stock valued at $293,686,892 in the last 90 days. Company insiders own 27.91% of the company's stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds have recently modified their holdings of ABNB. Norges Bank acquired a new stake in shares of Airbnb in the fourth quarter valued at approximately $433,374,000. Pacer Advisors Inc. increased its position in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after buying an additional 2,590,475 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after acquiring an additional 2,577,000 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares during the period. 80.76% of the stock is currently owned by hedge funds and other 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.