Airbnb (NASDAQ:ABNB) Price Target Raised to $175.00 at DA Davidson

Airbnb (NASDAQ:ABNB) had its price target upped by DA Davidson from $162.00 to $175.00 in a research report report published on Friday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. UBS Group raised their target price on shares of Airbnb from $163.00 to $172.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group set a $200.00 price target on shares of Airbnb in a research note on Friday. CICC Research began coverage on Airbnb in a research report on Friday, June 5th. They set an “outperform” rating and a $165.00 price objective on the stock. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $152.00 to $200.00 in a report on Friday. Finally, Barclays increased their target price on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of “Moderate Buy” and an average target price of $171.97.

Airbnb Stock Performance

ABNB opened at $178.07 on Friday. The firm has a market capitalization of $107.32 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 1.89 and a beta of 1.14. Airbnb has a one year low of $110.81 and a one year high of $178.48. The business has a 50 day simple moving average of $143.98 and a two-hundred day simple moving average of $135.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts predict that Airbnb will post 4.97 EPS for the current year.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,405,329 shares of company stock valued at $334,175,423. 27.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently added to or reduced their stakes in the stock. HS Management Partners LLC purchased a new position in Airbnb during the second quarter valued at $9,614,000. Plato Investment Management Ltd purchased a new position in shares of Airbnb during the second quarter valued at about $3,070,000. Bank of New York Mellon Corp bought a new stake in shares of Airbnb in the second quarter worth about $330,085,000. S&CO Inc. bought a new position in Airbnb during the second quarter valued at approximately $8,923,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in Airbnb in the 2nd quarter worth approximately $284,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.