Airbnb (NASDAQ:ABNB) Price Target Raised to $159.00

Airbnb (NASDAQ:ABNB) had its price target upped by Bank of America from $154.00 to $159.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

ABNB has been the subject of a number of other research reports. TD Cowen lifted their price objective on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Susquehanna upped their price objective on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a report on Monday, November 11th. Jefferies Financial Group raised their target price on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. 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 target for the company. Finally, Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.48.

Airbnb Price Performance

Airbnb stock opened at $134.21 on Wednesday. The firm has a 50-day moving average of $135.71 and a two-hundred day moving average of $134.33. The stock has a market cap of $85.09 billion, a price-to-earnings ratio of 47.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. On average, research analysts forecast that Airbnb will post 3.99 earnings per share for the current year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $131.88, for a total value of $28,259,905.80. Following the sale, the director now directly owns 1,285,715 shares in the company, valued at approximately $169,560,094.20. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 764,592 shares of company stock worth $101,185,969 over the last three months. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Edgewood Management LLC raised its stake in Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC raised its holdings in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Airbnb by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after buying an additional 52,358 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.