Robert W. Baird Lowers Airbnb (NASDAQ:ABNB) Price Target to $160.00

Airbnb (NASDAQ:ABNB) had its price objective cut by equities researchers at Robert W. Baird from $175.00 to $160.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 23.25% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research note on Friday, February 14th. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Tigress Financial increased their target price on shares of Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Truist Financial dropped their price target on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a research note on Friday. Finally, Evercore ISI increased their price objective on Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and an average price target of $147.36.

Airbnb Stock Performance

NASDAQ:ABNB opened at $129.82 on Tuesday. The stock has a market capitalization of $81.86 billion, a P/E ratio of 31.43, a PEG ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.00. The company has a 50 day moving average price of $135.74 and a 200 day moving average price of $133.53.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities research analysts forecast that Airbnb will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $26,046,300. This trade represents a 52.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $135.94, for a total value of $29,129,902.90. Following the transaction, the director now directly owns 1,285,715 shares in the company, valued at $174,780,097.10. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,055,909 shares of company stock worth $289,763,290 in the last three months. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of institutional investors and hedge funds have recently modified their holdings of ABNB. Fairtree Asset Management Pty Ltd acquired a new stake in Airbnb in the fourth quarter valued at $431,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Airbnb by 82.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,493 shares of the company’s stock valued at $6,898,000 after buying an additional 23,723 shares during the period. NorthCrest Asset Manangement LLC acquired a new stake in Airbnb during the fourth quarter worth approximately $304,000. Siemens Fonds Invest GmbH grew its stake in Airbnb by 133.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 54,362 shares of the company’s stock worth $6,630,000 after acquiring an additional 31,037 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in Airbnb in the 4th quarter valued at $26,000. 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.