JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price target hoisted by analysts at JPMorgan Chase & Co. from $121.00 to $142.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 5.49% from the stock’s current price.

A number of other equities analysts also recently commented on ABNB. BMO Capital Markets dropped their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Raymond James began coverage on Airbnb in a research note on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Bank of America reaffirmed a “hold” rating and set a $142.00 target price (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Susquehanna dropped their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial decreased their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $139.26.

Airbnb Stock Down 8.7 %

Shares of ABNB opened at $134.61 on Friday. The firm has a fifty day moving average price of $129.14 and a 200-day moving average price of $137.72. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $86.37 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.99 and a beta of 1.15. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now directly owns 192,244 shares of the company’s stock, valued at $26,016,380.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the sale, the chief technology officer now owns 192,244 shares of the company’s stock, valued at $26,016,380.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 417,806 shares of company stock valued at $51,809,831. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ABNB. Transcendent Capital Group LLC acquired a new stake in Airbnb during the 1st quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb in the 3rd quarter valued at about $25,000. Hollencrest Capital Management boosted its stake in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. New Millennium Group LLC acquired a new stake in Airbnb during the second quarter worth about $28,000. Finally, Cultivar Capital Inc. purchased a new position in Airbnb during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors 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.