Analysts Set Airbnb, Inc. (NASDAQ:ABNB) Target Price at $159.65

Shares of Airbnb, Inc. (NASDAQ:ABNB) have been given a consensus rating of “Moderate Buy” by the thirty-nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $159.6538.

ABNB has been the subject of a number of research reports. Barclays raised their price target on shares of Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Robert W. Baird boosted their price objective on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Cantor Fitzgerald upgraded shares of Airbnb from a “neutral” rating to an “overweight” rating in a research report on Monday, May 4th. HC Wainwright raised shares of Airbnb to a “buy” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC started coverage on shares of Airbnb in a research note on Monday, May 4th. They set a “buy” rating on the stock.

Insider Activity

In related news, Director Joseph Gebbia sold 294,903 shares of the firm’s 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 sale, the director directly owned 2,622,452 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at approximately $1,481,708,753.58. This trade represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,231,864 shares of company stock worth $308,474,278 over the last quarter. 27.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Airbnb

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harris Associates L P increased its position in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Norges Bank bought a new stake in shares of Airbnb in the fourth quarter worth about $480,332,000. Jennison Associates LLC boosted its holdings in shares of Airbnb by 9,331.0% in the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock worth $400,681,000 after purchasing an additional 3,139,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after acquiring an additional 2,724,682 shares during the last quarter. Finally, SRS Investment Management LLC purchased a new stake in shares of Airbnb in the 4th quarter worth $342,017,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of ABNB stock opened at $141.10 on Wednesday. The stock’s fifty day moving average is $139.84 and its 200-day moving average is $134.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $85.04 billion, a PE ratio of 34.75, a PEG ratio of 1.51 and a beta of 1.14. Airbnb has a 52 week low of $110.81 and a 52 week high of $150.88.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts expect that Airbnb will post 4.93 EPS for the current fiscal year.

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.