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

Airbnb (NASDAQ:ABNB) had its price objective boosted by equities research analysts at Evercore ISI to $155.00 in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the stock. Evercore ISI’s target price suggests a potential upside of 17.28% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Raymond James initiated coverage on Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective for the company. Wedbush upped their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler increased their target price on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price target on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.63.

Airbnb Stock Down 0.3 %

Shares of ABNB opened at $132.16 on Wednesday. The company’s 50-day moving average price is $134.45 and its 200 day moving average price is $132.22. 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 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $83.79 billion, a P/E ratio of 46.37, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm earned $2.39 EPS. On average, sell-side analysts forecast that Airbnb will post 3.99 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the sale, the director now owns 1,071,430 shares in the company, valued at $138,160,898.50. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction, the chief technology officer now owns 185,414 shares of the company’s stock, valued at $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,130,982 shares of company stock valued at $150,523,585. Insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb in the 3rd quarter valued at approximately $34,982,000. Tri Ri Asset Management Corp acquired a new position in shares of Airbnb during the third quarter valued at $6,352,000. J.W. Cole Advisors Inc. raised its stake in shares of Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after purchasing an additional 2,132 shares in the last quarter. Shellback Capital LP bought a new stake in shares of Airbnb during the second quarter valued at about $22,744,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Airbnb by 40.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after acquiring an additional 197,558 shares during the period. 80.76% of the stock is currently owned by 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.