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

Airbnb (NASDAQ:ABNB) had its price target hoisted by analysts at Bank of America from $154.00 to $159.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 20.24% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Truist Financial decreased their price target on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Citigroup upped their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group increased their price objective on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 target price on shares of Airbnb in a research report on Monday, October 7th. Finally, Sanford C. Bernstein lowered their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.48.

Airbnb Price Performance

NASDAQ:ABNB opened at $132.24 on Wednesday. The firm’s 50-day simple moving average is $135.94 and its 200 day simple moving average is $134.50. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a market cap of $83.84 billion, a price-to-earnings ratio of 46.40, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business 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. As a group, sell-side analysts predict that Airbnb will post 3.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $127.32, for a total value of $9,793,836.36. Following the completion of the sale, the chief executive officer now directly owns 13,238,989 shares of the company’s stock, valued at approximately $1,685,588,079.48. This represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 72.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,307 shares of company stock valued at $72,926,063. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several large investors have recently added to or reduced their stakes in ABNB. Retirement Systems of Alabama raised its stake in Airbnb by 5.7% during the 3rd quarter. Retirement Systems of Alabama now owns 341,031 shares of the company’s stock worth $43,246,000 after acquiring an additional 18,407 shares in the last quarter. Tri Ri Asset Management Corp acquired a new position in Airbnb during the third quarter worth approximately $6,352,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Airbnb in the third quarter valued at approximately $648,000. Virtu Financial LLC purchased a new stake in Airbnb in the 3rd quarter valued at $609,000. Finally, Advisory Resource Group grew its holdings in shares of Airbnb by 25.7% during the third quarter. Advisory Resource Group now owns 10,434 shares of the company’s stock worth $1,323,000 after buying an additional 2,131 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.