Citigroup Boosts Airbnb (NASDAQ:ABNB) Price Target to $158.00

Airbnb (NASDAQ:ABNB) had its target price boosted by equities research analysts at Citigroup from $135.00 to $158.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 18.62% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research report on Monday, October 7th. Piper Sandler raised their price target on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Raymond James assumed coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 target price on the stock. Finally, Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average price target of $139.31.

Airbnb Trading Down 3.1 %

Shares of Airbnb stock opened at $133.20 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $129.54 and its 200-day simple moving average is $137.20. The stock has a market cap of $85.46 billion, a P/E ratio of 46.91, a P/E/G ratio of 1.90 and a beta of 1.15. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued 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). The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 33.36% and a net margin of 16.96%. During the same period last year, the firm earned $2.39 earnings per share. Analysts predict that Airbnb will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is currently owned by insiders.

Institutional Trading of Airbnb

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in shares of Airbnb by 138.4% in the 1st quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock worth $1,694,000 after acquiring an additional 5,962 shares during the period. Choate Investment Advisors acquired a new position in Airbnb during the 1st quarter worth approximately $233,000. NorthRock Partners LLC purchased a new position in shares of Airbnb during the 1st quarter worth approximately $210,000. QRG Capital Management Inc. raised its stake in shares of Airbnb by 8.5% during the 1st quarter. QRG Capital Management Inc. now owns 24,425 shares of the company’s stock worth $4,029,000 after buying an additional 1,917 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Airbnb by 0.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,617 shares of the company’s stock valued at $15,773,000 after buying an additional 414 shares during the period. 80.76% of the stock is 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.