Citigroup Lowers Airbnb (NASDAQ:ABNB) Price Target to $167.00

Airbnb (NASDAQ:ABNB - Get Free Report) had its price target reduced by Citigroup from $170.00 to $167.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 13.57% from the stock's current price.

A number of other research firms have also commented on ABNB. Tigress Financial lifted their target price on shares of Airbnb from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, April 5th. HSBC lowered shares of Airbnb from a "buy" rating to a "hold" rating and decreased their price target for the company from $160.00 to $156.00 in a report on Thursday. DA Davidson restated a "neutral" rating and set a $145.00 target price on shares of Airbnb in a report on Thursday. Susquehanna lifted their target price on Airbnb from $160.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, February 14th. Finally, Bank of America upped their price target on shares of Airbnb from $155.00 to $168.00 and gave the stock a "neutral" rating in a research report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $151.91.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded down $10.85 during trading hours on Thursday, hitting $147.05. 14,791,206 shares of the stock were exchanged, compared to its average volume of 4,584,189. The firm has a market capitalization of $95.15 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. Airbnb has a one year low of $103.55 and a one year high of $170.10. The company's 50 day moving average is $161.68 and its 200 day moving average is $145.50.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.06 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The business's revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, research analysts expect that Airbnb will post 4.47 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 9,196 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total value of $1,441,564.96. Following the transaction, the chief financial officer now directly owns 535,530 shares in the company, valued at approximately $83,949,682.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CFO Elinor Mertz sold 9,196 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total value of $1,441,564.96. Following the completion of the transaction, the chief financial officer now directly owns 535,530 shares in the company, valued at $83,949,682.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 76,912 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the sale, the chief executive officer now directly owns 14,545,529 shares in the company, valued at $2,149,683,730.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,874 shares of company stock worth $63,712,671. Company insiders own 27.83% of the company's stock.

Institutional Trading of Airbnb

Several large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in Airbnb by 79.2% in the 3rd quarter. Mackenzie Financial Corp now owns 41,162 shares of the company's stock valued at $5,258,000 after buying an additional 18,196 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Airbnb by 5.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,823 shares of the company's stock valued at $250,000 after acquiring an additional 89 shares during the last quarter. Advisor Partners II LLC lifted its stake in Airbnb by 32.5% during the third quarter. Advisor Partners II LLC now owns 8,207 shares of the company's stock worth $1,126,000 after purchasing an additional 2,013 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Airbnb during the third quarter worth approximately $4,528,000. Finally, TD Asset Management Inc boosted its stake in Airbnb by 51.3% in the third quarter. TD Asset Management Inc now owns 242,862 shares of the company's stock valued at $33,323,000 after acquiring an additional 82,335 shares in 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.

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