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

Key Points

• UBS Group has reduced its price target for Airbnb (ABNB) from $148.00 to $145.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 12.89% from the last close.
• Other analysts have varied opinions on Airbnb, with Barclays setting a target of $105.00 as "underweight" and JPMorgan raising it to $130.00 with a "neutral" rating.
• In recent trading, Airbnb shares have increased by 0.9%, with a current price of $128.45 and an average target price of $141.70 from various analysts, indicating a consensus of "Hold" on the stock.

Airbnb (NASDAQ:ABNB - Get Free Report) had its price target cut by equities research analysts at UBS Group from $148.00 to $145.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price points to a potential upside of 12.89% from the stock's previous close.

Several other research firms have also recently issued reports on ABNB. Barclays set a $105.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. Mizuho assumed coverage on shares of Airbnb in a report on Monday, September 29th. They set an "outperform" rating and a $151.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $141.70.

Airbnb Stock Up 0.9%

Shares of ABNB stock traded up $1.10 during mid-day trading on Friday, hitting $128.45. 983,242 shares of the company's stock were exchanged, compared to its average volume of 5,126,623. The stock has a market cap of $79.82 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 2.32 and a beta of 1.10. The stock has a 50-day simple moving average of $124.42 and a two-hundred day simple moving average of $127.69. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts anticipate that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total transaction of $74,556.00. Following the completion of the sale, the chief technology officer directly owned 197,206 shares of the company's stock, valued at $24,504,817.56. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,425,876 shares of company stock valued at $177,336,982 over the last quarter. 27.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its stake in Airbnb by 42.8% in the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in Airbnb by 74.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock valued at $2,451,000 after acquiring an additional 8,780 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock valued at $2,291,000 after purchasing an additional 6,579 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Airbnb by 52.9% during the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock worth $293,590,000 after purchasing an additional 850,719 shares during the last quarter. Finally, York GP Ltd. bought a new position in Airbnb in the second quarter valued at about $6,617,000. 80.76% of the stock is currently owned by 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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