Airbnb (NASDAQ:ABNB) Stock Price Expected to Rise, Benchmark Analyst Says

Airbnb (NASDAQ:ABNB) had its price target boosted by stock analysts at Benchmark from $150.00 to $178.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 10.27% from the stock’s previous close.

ABNB has been the subject of several other research reports. Canaccord Genuity Group increased their price objective on shares of Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America boosted their price target on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. TD Cowen increased their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird upgraded Airbnb from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $140.00 to $175.00 in a research note on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $145.79.

Airbnb Stock Performance

Shares of Airbnb stock opened at $161.42 on Friday. The stock’s fifty day simple moving average is $133.49 and its 200 day simple moving average is $130.11. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $102.34 billion, a PE ratio of 56.64, a PEG ratio of 1.88 and a beta of 1.12. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, research analysts predict that Airbnb will post 3.97 EPS 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 that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. The trade was a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a 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 stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,608,005 shares of company stock worth $214,394,023 in the last ninety days. 27.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Airbnb by 6,085.6% during the third 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 in the last quarter. Norges Bank bought a new stake in shares of Airbnb during the 4th quarter worth approximately $433,374,000. Clearbridge Investments LLC boosted its position in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Meritage Group LP bought a new position in Airbnb in the third quarter valued at approximately $160,985,000. Finally, Principal Financial Group Inc. raised its position in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after purchasing an additional 1,185,892 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.