Canaccord Genuity Group Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price target raised by equities research analysts at Canaccord Genuity Group from $165.00 to $190.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 17.71% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Friday. Piper Sandler raised their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. TD Cowen boosted their price target on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group raised their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of Airbnb in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $145.79.

Airbnb Price Performance

Shares of ABNB opened at $161.42 on Friday. The business has a 50-day moving average of $133.49 and a 200-day moving average of $130.11. 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 has a market capitalization of $102.34 billion, a price-to-earnings ratio of 56.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly 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, equities research analysts anticipate that Airbnb will post 3.97 earnings per share for the current year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $129.58, for a total transaction of $90,706.00. Following the transaction, the chief technology officer now owns 181,914 shares of the company’s stock, valued at $23,572,416.12. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chesky sold 190,301 shares of Airbnb stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $140.51, for a total value of $26,739,193.51. Following the completion of the sale, the chief executive officer now directly owns 12,231,685 shares of the company’s stock, valued at approximately $1,718,674,059.35. This trade represents a 1.53 % decrease in their position. 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 ninety days. Company insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CAP Partners LLC lifted its stake in shares of Airbnb by 3.6% during the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after buying an additional 77 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after acquiring an additional 78 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock worth $69,000 after acquiring an additional 81 shares during the period. Salvus Wealth Management LLC grew its position in shares of Airbnb by 2.5% in the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in shares of Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock valued at $176,000 after purchasing an additional 90 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.