Airbnb (NASDAQ:ABNB) Price Target Raised to $104.00

Airbnb (NASDAQ:ABNB) had its target price raised by equities research analysts at Barclays from $103.00 to $104.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 23.83% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, May 14th. Susquehanna decreased their target price on Airbnb from $200.00 to $150.00 and set a “positive” rating for the company in a research note on Monday, May 5th. Evercore ISI decreased their target price on Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Truist Financial reissued a “sell” rating and issued a $106.00 target price (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.50.

Airbnb Stock Down 1.5%

Shares of Airbnb stock opened at $136.54 on Wednesday. Airbnb has a 12 month low of $99.88 and a 12 month high of $163.93. The business has a fifty day simple moving average of $133.57 and a 200 day simple moving average of $130.65. The stock has a market cap of $85.53 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.59 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Airbnb will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the sale, the director directly owned 708,015 shares in the company, valued at $96,573,246. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares of the company’s stock, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,629,043 shares of company stock worth $210,678,753. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Large investors have recently made changes to their positions in the company. MJP Associates Inc. ADV boosted its stake in Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after purchasing an additional 67 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after purchasing an additional 78 shares during the last quarter. Ellevest Inc. boosted its stake in Airbnb by 3.1% during the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock valued at $349,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. boosted its stake in Airbnb by 12.2% during the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after purchasing an additional 80 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in Airbnb by 4.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after purchasing an additional 83 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.