Airbnb (NASDAQ:ABNB) Stock Price Expected to Rise, Piper Sandler Analyst Says

Airbnb (NASDAQ:ABNB) had its target price boosted by Piper Sandler from $125.00 to $145.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

ABNB has been the topic of a number of other research reports. TD Cowen dropped their price target on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Mizuho cut their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. The Goldman Sachs Group dropped their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America reissued a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.94.

Airbnb Stock Up 2.1 %

NASDAQ ABNB opened at $137.40 on Friday. The stock’s 50 day moving average is $129.54 and its 200 day moving average is $137.20. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market cap of $88.16 billion, a PE ratio of 48.21, a P/E/G ratio of 1.90 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 33.36%. During the same period in the prior year, the firm posted $2.39 EPS. Research analysts predict that Airbnb will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 192,244 shares of the company’s stock, valued at approximately $26,016,380.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now owns 192,244 shares in the company, valued at approximately $26,016,380.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,806 shares of company stock valued at $51,809,831 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of Airbnb during the 1st quarter worth about $303,000. Empirical Finance LLC bought a new stake in Airbnb in the 1st quarter valued at about $339,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Airbnb by 45.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,021 shares of the company’s stock valued at $4,127,000 after buying an additional 7,849 shares in the last quarter. Empowered Funds LLC raised its position in shares of Airbnb by 138.4% in the 1st quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after buying an additional 5,962 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Airbnb by 12.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 29,375 shares of the company’s stock valued at $4,846,000 after buying an additional 3,278 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.