Airbnb (NASDAQ:ABNB) Given New $131.00 Price Target at DA Davidson

Airbnb (NASDAQ:ABNB) had its target price increased by investment analysts at DA Davidson from $125.00 to $131.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential downside of 0.33% from the company’s current price.

Other analysts have also recently issued reports about the company. Phillip Securities reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Airbnb in a research note on Tuesday, November 12th. Sanford C. Bernstein lowered their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Piper Sandler lifted their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Raymond James started coverage on shares of Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.97.

Airbnb Price Performance

Airbnb stock opened at $131.44 on Monday. The business’s 50-day simple moving average is $131.63 and its 200 day simple moving average is $136.06. The stock has a market cap of $83.33 billion, a price-to-earnings ratio of 46.12, a P/E/G ratio of 1.87 and a beta of 1.15. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the business earned $2.39 earnings per share. As a group, research analysts anticipate that Airbnb will post 4.04 earnings per share for the current year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 72.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 417,206 shares of company stock worth $51,738,467 in the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of large investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of Airbnb in the first quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management boosted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. New Millennium Group LLC acquired a new position in Airbnb in the 2nd quarter valued at about $28,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the 2nd quarter valued at about $30,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Company Profile

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.