Airbnb (NASDAQ:ABNB) Stock Price Expected to Rise, DA Davidson Analyst Says

Airbnb (NASDAQ:ABNB) had its price target hoisted by equities research analysts at DA Davidson from $175.00 to $220.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective suggests a potential upside of 16.14% from the company’s current price.

Several other research firms also recently weighed in on ABNB. Needham & Company LLC started coverage on Airbnb in a report on Monday, May 4th. They set a “buy” rating on the stock. Royal Bank Of Canada set a $165.00 target price on Airbnb in a report on Monday, August 10th. Raymond James Financial raised Airbnb from a “market perform” rating to a “strong-buy” rating in a research note on Monday, May 4th. B. Riley Financial restated a “buy” rating on shares of Airbnb in a report on Friday, August 7th. Finally, Canaccord Genuity Group set a $200.00 price target on Airbnb in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Moderate Buy” and an average price target of $175.59.

Airbnb Stock Performance

Shares of Airbnb stock opened at $189.43 on Monday. The firm has a market capitalization of $113.43 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.14. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $158.90 and its 200 day moving average is $141.89. Airbnb has a 1 year low of $110.81 and a 1 year high of $193.45.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts forecast that Airbnb will post 5.23 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction 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 completion of the transaction, the director owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the completion of the transaction, the insider owned 171,370 shares in the company, valued at approximately $29,888,641.70. The trade was a 75.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,405,634 shares of company stock worth $386,670,578. Company insiders own 27.21% of the company’s stock.

Institutional Trading of Airbnb

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in shares of Airbnb by 13,162.3% in the 2nd quarter. California State Teachers Retirement System now owns 91,253,439 shares of the company’s stock valued at $13,058,367,000 after purchasing an additional 90,565,372 shares during the period. Harris Associates L P increased its holdings in Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. Norges Bank bought a new stake in Airbnb in the fourth quarter worth approximately $480,332,000. Jennison Associates LLC lifted its stake in Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after buying an additional 3,139,315 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Airbnb by 453.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

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.