Citigroup Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price objective raised by Citigroup from $135.00 to $158.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Mizuho dropped their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. B. Riley dropped their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. Bank of America reiterated a “hold” rating and issued a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $139.31.

Airbnb Price Performance

Shares of ABNB opened at $134.56 on Monday. The stock has a market cap of $86.34 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm’s 50-day simple moving average is $130.25 and its two-hundred day simple moving average is $136.96.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the company posted $2.39 EPS. Analysts anticipate that Airbnb will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This trade represents a 72.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock valued at $51,809,831 over the last three months. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Several institutional investors have recently bought and sold shares of ABNB. Empowered Funds LLC grew its stake in Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after acquiring an additional 5,962 shares in the last quarter. Choate Investment Advisors purchased a new position in Airbnb during the first quarter valued at $233,000. NorthRock Partners LLC purchased a new position in Airbnb during the first quarter valued at $210,000. QRG Capital Management Inc. grew its stake in Airbnb by 8.5% during the first quarter. QRG Capital Management Inc. now owns 24,425 shares of the company’s stock valued at $4,029,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Airbnb by 0.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,617 shares of the company’s stock valued at $15,773,000 after acquiring an additional 414 shares in the last quarter. 80.76% of the stock is 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.