Vacation rental stock Airbnb Inc (NASDAQ:ABNB) was last seen down 7.5% to trade at $120.74, despite better-than-expected second-quarter results, after the company forecast slower growth in the second half of the year. No fewer than five analysts lifted their price targets after the event, including J.P. Morgan Securities to $130 from $120, while three chimed in with price-target cuts.
Of the 40 analysts in coverage, 12 carry a "buy" or better rating, 21 a tepid "hold," and seven a "sell" or worse. The 12-month consensus price target now sits at $140.85, a 15.9% premium to current levels.
On the charts, Airbnb stock is now trading at its lowest level since early May, down 7.5% year-to-date. The equity is also below all daily moving averages between the 20- and 320-day trendlines.
Options traders are targeting ABNB at six times the average rate, with 26,000 calls and 30,000 puts exchanged so far. The weekly 8/8 125-strike put is the most popular, followed by the 117-strike put in the same series.
