Airbnb (NASDAQ:ABNB) Price Target Raised to $230.00

Airbnb (NASDAQ:ABNB) had its target price boosted by Jefferies Financial Group from $215.00 to $230.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Airbnb from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Benchmark lifted their target price on Airbnb from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Airbnb in a report on Monday. DA Davidson upped their target price on Airbnb from $175.00 to $220.00 and gave the company a “buy” rating in a report on Monday, August 31st. Finally, Weiss Ratings raised shares of Airbnb from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.46.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $181.13 on Monday. The company’s fifty day moving average is $169.13 and its two-hundred day moving average is $148.51. The company has a market cap of $108.46 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26. Airbnb has a 12-month low of $110.81 and a 12-month high of $197.87. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 5th. The company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.85 by $0.31. Airbnb had a return on equity of 38.94% and a net margin of 23.02%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter last year, the firm posted $2.21 earnings per share. Airbnb’s revenue was up 18.9% compared to the same quarter last year. Equities analysts expect that Airbnb will post 5.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 1,756 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $167.38, for a total value of $293,919.28. Following the transaction, the chief accounting officer directly owned 43,899 shares of the company’s stock, valued at $7,347,814.62. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 13,625 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $194.37, for a total value of $2,648,291.25. Following the sale, the insider directly owned 20,567 shares of the company’s stock, valued at $3,997,607.79. This trade represents a 39.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 638,891 shares of company stock valued at $120,204,649. Insiders own 27.21% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several large investors have recently made changes to their positions in ABNB. Pathway Financial Advisers LLC acquired a new stake in Airbnb in the third quarter valued at approximately $32,000. Putney Financial Group LLC acquired a new position in shares of Airbnb during the 3rd quarter worth $32,000. First Command Advisory Services Inc. increased its stake in shares of Airbnb by 627.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 211 shares of the company’s stock worth $34,000 after purchasing an additional 182 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Finally, Compass Financial Management LLC raised its holdings in shares of Airbnb by 760.0% during the 3rd quarter. Compass Financial Management LLC now owns 215 shares of the company’s stock valued at $35,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Key Headlines Impacting Airbnb

These are some of the ABNB headlines that stood out recently:

• Positive Sentiment: Airbnb beat third-quarter earnings and revenue estimates, with revenue up 18.9% year over year. Its newly authorized $12 billion share-repurchase program adds another potential source of support for shareholders. Airbnb earnings and buyback
• Positive Sentiment: Airbnb says AI-assistant improvements cut customer-support cost per booking by 17% year over year, offering evidence that AI can improve operating efficiency. The company is also developing its own AI travel agent. Customer-support cost savings
• Negative Sentiment: Reports that OpenAI acquired travel-planning platform Odessia raised concerns that AI firms could compete with online travel platforms in planning and bookings, pressuring Airbnb and sector peers. Travel stocks fall on OpenAI acquisition report

Airbnb Company Profile

Airbnb operates an online marketplace that connects travelers with hosts offering short-term stays and other travel-related services. Listings include apartments, houses, rooms and distinctive accommodations, with options ranging from brief visits to longer stays. The platform also offers bookable experiences in destinations around the world. Founded in 2007 in San Francisco, Airbnb was started by Brian Chesky, Nathan Blecharczyk and Joe Gebbia. The company serves guests and hosts in more than 220 countries and regions, providing tools for listing properties, managing reservations and handling payments.