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

Airbnb (NASDAQ:ABNB) had its target price increased by Bank of America from $154.00 to $159.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also issued reports on ABNB. Phillip Securities restated a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Raymond James began coverage on Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price on the stock. Mizuho cut their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, DA Davidson boosted their price objective on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. 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 MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $139.48.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $134.21 on Wednesday. The stock has a fifty day simple moving average of $135.71 and a two-hundred day simple moving average of $134.33. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The firm 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 (NASDAQ:ABNB) last issued its quarterly 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 return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm earned $2.39 earnings per share. Analysts anticipate that Airbnb will post 3.99 earnings per share for the current year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 764,592 shares of company stock worth $101,185,969. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management boosted its stake in shares of Airbnb by 14.8% during the 2nd quarter. Brookstone Capital Management now owns 2,220 shares of the company’s stock valued at $329,000 after purchasing an additional 287 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Airbnb by 55.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,030 shares of the company’s stock worth $308,000 after purchasing an additional 726 shares during the period. Fifth Third Bancorp boosted its stake in shares of Airbnb by 85.2% during the 2nd quarter. Fifth Third Bancorp now owns 22,844 shares of the company’s stock worth $3,464,000 after acquiring an additional 10,507 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Airbnb by 3.3% during the second quarter. Atria Wealth Solutions Inc. now owns 18,887 shares of the company’s stock valued at $2,864,000 after purchasing an additional 610 shares during the period. Finally, GYL Financial Synergies LLC grew its stake in shares of Airbnb by 5.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds 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.