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

Airbnb (NASDAQ:ABNB) had its price objective upped by Barclays from $110.00 to $120.00 in a research note published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts also recently issued reports on ABNB. Susquehanna upped their target price on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday, November 11th. Truist Financial dropped their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Bank of America upped their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Friday. Five equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $145.79.

Airbnb Trading Up 14.4 %

NASDAQ:ABNB opened at $161.42 on Friday. Airbnb has a one year low of $110.38 and a one 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. The company’s 50-day simple moving average is $133.49 and its 200 day simple moving average is $130.17. The firm has a market capitalization of $102.34 billion, a P/E ratio of 56.64, a PEG ratio of 1.88 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. As a group, analysts forecast that Airbnb will post 3.97 EPS for the current fiscal year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the transaction, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % 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, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,608,005 shares of company stock worth $214,394,023 in the last three months. Company 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 the stock. Meiji Yasuda Life Insurance Co grew its stake in Airbnb by 56.4% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 3,523 shares of the company’s stock valued at $463,000 after acquiring an additional 1,270 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Airbnb during the fourth quarter valued at $4,139,000. Davidson Kahn Capital Management LLC purchased a new position in Airbnb during the fourth quarter valued at $936,000. Comerica Bank grew its stake in shares of Airbnb by 10.2% in the 4th quarter. Comerica Bank now owns 93,890 shares of the company’s stock worth $12,338,000 after buying an additional 8,719 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Airbnb by 0.3% in the 4th quarter. Utah Retirement Systems now owns 60,100 shares of the company’s stock worth $7,898,000 after buying an additional 200 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.