Morgan Stanley Boosts Airbnb (NASDAQ:ABNB) Price Target to $130.00

Airbnb (NASDAQ:ABNB) had its target price lifted by analysts at Morgan Stanley from $120.00 to $130.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 12.33% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company increased their price target on Airbnb from $127.00 to $129.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. DA Davidson reaffirmed a “neutral” rating and set a $145.00 target price on shares of Airbnb in a report on Thursday, May 9th. HSBC downgraded shares of Airbnb from a “buy” rating to a “hold” rating and cut their price target for the company from $160.00 to $156.00 in a report on Thursday, May 9th. B. Riley Financial started coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective on the stock. Finally, Truist Financial increased their target price on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $152.74.

Airbnb Stock Down 1.3 %

NASDAQ ABNB traded down $1.89 on Tuesday, hitting $148.29. 1,366,982 shares of the stock traded hands, compared to its average volume of 4,315,559. The company has a market capitalization of $95.50 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18. The stock has a 50-day moving average of $148.02 and a 200 day moving average of $152.19. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a twelve month low of $113.24 and a twelve month high of $170.10.

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

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the completion of the sale, the chief technology officer now owns 219,904 shares in the company, valued at approximately $35,624,448. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO David C. Bernstein sold 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $145.50, for a total value of $291,000.00. Following the completion of the sale, the chief accounting officer now directly owns 45,043 shares in the company, valued at $6,553,756.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 219,904 shares in the company, valued at $35,624,448. The disclosure for this sale can be found here. Insiders have sold 540,707 shares of company stock valued at $80,386,079 over the last three months. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ABNB. CHURCHILL MANAGEMENT Corp bought a new stake in Airbnb during the 1st quarter valued at approximately $7,628,000. Assenagon Asset Management S.A. raised its stake in Airbnb by 4.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares during the period. Stevens Capital Management LP bought a new stake in Airbnb in the 4th quarter valued at $726,000. Finally, Cerity Partners LLC grew its position in Airbnb by 14.4% in the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after purchasing an additional 12,008 shares during the last quarter. 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.