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

Airbnb (NASDAQ:ABNB) had its price target lifted by Evercore ISI to $155.00 in a report issued on Wednesday,Stock Target Advisor reports. They currently have a hold rating on the stock.

A number of other analysts have also recently commented on ABNB. Robert W. Baird boosted their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, November 8th. UBS Group boosted their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their price target on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.63.

Airbnb Stock Performance

Shares of ABNB opened at $135.12 on Wednesday. The company has a 50-day simple moving average of $134.15 and a two-hundred day simple moving average of $132.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $85.66 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Airbnb has a one year low of $110.38 and a one year high of $170.10.

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

Insider Transactions at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total value of $137,000.00. Following the transaction, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the transaction, the chief technology officer now owns 185,414 shares in the company, valued at $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,130,982 shares of company stock worth $150,523,585 in the last quarter. Company insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb during the 3rd quarter valued at about $25,000. Hollencrest Capital Management raised its stake in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new position in Airbnb during the third quarter valued at approximately $30,000. Quarry LP bought a new position in shares of Airbnb in the third quarter worth approximately $55,000. Finally, CVA Family Office LLC increased its stake in shares of Airbnb by 131.2% in the third quarter. CVA Family Office LLC now owns 474 shares of the company’s stock worth $60,000 after purchasing an additional 269 shares in the last quarter. 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.