Airbnb (NASDAQ:ABNB) Price Target Raised to $134.00

Airbnb (NASDAQ:ABNB) had its price target boosted by Truist Financial from $129.00 to $134.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently commented on ABNB. Needham & Company LLC initiated coverage on Airbnb in a report on Monday, May 4th. They issued a “buy” rating for the company. Benchmark upped their price objective on Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, May 8th. Tigress Financial dropped their price objective on Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Scotiabank initiated coverage on Airbnb in a report on Monday, May 4th. They issued an “outperform” rating for the company. Finally, Oppenheimer upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Airbnb has a consensus rating of “Moderate Buy” and an average target price of $157.96.

Airbnb Stock Performance

ABNB stock opened at $132.28 on Friday. The company has a market cap of $79.73 billion, a P/E ratio of 32.58, a PEG ratio of 1.42 and a beta of 1.16. Airbnb has a twelve month low of $110.81 and a twelve month high of $147.25. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $134.91 and a 200-day moving average of $131.36.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities research analysts expect that Airbnb will post 4.91 EPS for the current year.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 265,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $135.45, for a total value of $35,894,250.00. Following the completion of the transaction, the director owned 3,182,355 shares in the company, valued at $431,049,984.75. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 4,195 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $135.71, for a total transaction of $569,303.45. Following the sale, the chief executive officer directly owned 10,732,428 shares of the company’s stock, valued at $1,456,497,803.88. This represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,677,117 shares of company stock valued at $226,595,468. 27.21% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

Several hedge funds and other institutional investors have recently modified their holdings of ABNB. Commerzbank Aktiengesellschaft FI boosted its position in shares of Airbnb by 1.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock worth $727,000 after buying an additional 76 shares during the period. Patton Fund Management Inc. raised its position in Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock valued at $254,000 after buying an additional 77 shares during the last quarter. BOKF NA raised its position in Airbnb by 11.0% in the 4th quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after buying an additional 78 shares during the last quarter. Yoder Wealth Management Inc. boosted its position in Airbnb by 0.3% during the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock worth $3,582,000 after acquiring an additional 84 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.