Airbnb (NASDAQ:ABNB) Price Target Raised to $136.00 at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its price objective boosted by equities research analysts at Wells Fargo & Company from $133.00 to $136.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.37% from the company’s previous close.

Other research analysts also recently issued reports about the company. Benchmark cut their price objective on Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 13th. BMO Capital Markets raised their target price on shares of Airbnb from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. UBS Group lifted their price target on shares of Airbnb from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein dropped their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Truist Financial upgraded shares of Airbnb from a “sell” rating to a “hold” rating and raised their price objective for the company from $107.00 to $129.00 in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $147.92.

Airbnb Trading Up 0.3%

NASDAQ ABNB traded up $0.38 on Wednesday, hitting $126.66. 1,056,883 shares of the company traded hands, compared to its average volume of 4,576,922. The business’s 50 day moving average price is $128.54 and its 200-day moving average price is $126.93. Airbnb has a 52-week low of $99.88 and a 52-week high of $143.88. The company has a market capitalization of $77.10 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.51 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $132.51, for a total value of $7,685,580.00. Following the completion of the transaction, the director directly owned 228,015 shares in the company, valued at $30,214,267.65. This represents a 20.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 4,260 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $125.29, for a total transaction of $533,735.40. Following the sale, the insider directly owned 49,250 shares of the company’s stock, valued at approximately $6,170,532.50. This trade represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 363,510 shares of company stock valued at $47,179,050. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in Airbnb in the 3rd quarter valued at $25,000. ORG Partners LLC boosted its holdings in shares of Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in shares of Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Entrust Financial LLC purchased a new position in shares of Airbnb during the fourth quarter valued at about $27,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Airbnb by 397.7% in the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Airbnb

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.