Wells Fargo & Company Increases Airbnb (NASDAQ:ABNB) Price Target to $129.00

Airbnb (NASDAQ:ABNB) had its price objective upped by Wells Fargo & Company from $127.00 to $129.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Piper Sandler reissued a neutral rating and issued a $155.00 price objective (up from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. UBS Group lifted their price target on Airbnb from $143.00 to $157.00 and gave the stock a neutral rating in a report on Thursday, May 9th. DA Davidson reiterated a neutral rating and issued a $145.00 price objective on shares of Airbnb in a report on Thursday, May 9th. Piper Sandler Companies boosted their target price on Airbnb from $145.00 to $155.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a neutral rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $152.44.

Airbnb Trading Down 3.8 %

NASDAQ:ABNB opened at $146.00 on Tuesday. Airbnb has a 12-month low of $113.24 and a 12-month high of $170.10. The firm has a market cap of $94.03 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $148.89 and a 200 day moving average price of $151.39.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.18. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business posted $0.18 EPS. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb will post 4.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now owns 219,904 shares in the company, valued at approximately $35,624,448. The disclosure for this sale can be found here. Insiders sold a total of 540,307 shares of company stock valued at $80,338,959 over the last 90 days. 27.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after purchasing an additional 791,149 shares during the period. Edgewood Management LLC increased its stake in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares in the last quarter. Jennison Associates LLC lifted its position in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares during the last quarter. Finally, Norges Bank acquired a new stake in Airbnb in the 4th quarter valued at about $619,584,000. Institutional investors 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.