Airbnb (NASDAQ:ABNB) Price Target Raised to $131.00

Airbnb (NASDAQ:ABNB - Get Free Report) had its price objective lifted by research analysts at DA Davidson from $125.00 to $131.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's target price indicates a potential downside of 0.90% from the stock's current price.

Several other equities analysts also recently commented on the company. Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley upped their price objective on Airbnb from $120.00 to $130.00 and gave the company an "underweight" rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Airbnb from $121.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Raymond James initiated coverage on shares of Airbnb in a research note on Friday, September 27th. They issued a "market perform" rating and a $134.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Airbnb from $125.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $138.97.

Airbnb Stock Performance

Airbnb stock traded down $0.31 during mid-day trading on Monday, hitting $132.19. 4,508,006 shares of the company's stock traded hands, compared to its average volume of 4,515,427. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market cap of $83.80 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 1.87 and a beta of 1.15. The firm has a 50 day simple moving average of $130.99 and a two-hundred day simple moving average of $136.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business posted $2.39 EPS. On average, research analysts expect that Airbnb will post 4.04 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the transaction, the director now owns 16,472 shares of the company's stock, valued at $2,083,378.56. This represents a 72.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company's stock, valued at $23,579,141.36. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,806 shares of company stock worth $51,809,831. Company insiders own 27.83% of the company's stock.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company's stock worth $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company's stock valued at $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company's stock worth $256,784,000 after acquiring an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Airbnb in the first quarter valued at about $265,292,000. Finally, Meritage Group LP bought a new position in Airbnb during the third quarter valued at $160,985,000. Institutional investors and hedge funds own 80.76% of the company's stock.

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.