Airbnb, Inc. (NASDAQ:ABNB) Receives $159.65 Consensus Target Price from Analysts

Airbnb, Inc. (NASDAQ:ABNB) has been given a consensus rating of “Moderate Buy” by the thirty-nine research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, twenty-three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $159.6538.

A number of equities analysts have recently issued reports on the company. Raymond James Financial raised Airbnb from a “market perform” rating to a “strong-buy” rating in a research report on Monday, May 4th. CICC Research began coverage on Airbnb in a research report on Friday, June 5th. They issued an “outperform” rating and a $165.00 price objective for the company. HC Wainwright upgraded Airbnb to a “buy” rating in a research note on Monday, May 4th. Robert W. Baird upped their target price on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Finally, UBS Group upped their target price on Airbnb from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, May 8th.

Airbnb Stock Up 2.6%

Shares of Airbnb stock opened at $141.10 on Wednesday. The firm’s 50 day moving average price is $139.84 and its 200-day moving average price is $134.62. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb has a 52-week low of $110.81 and a 52-week high of $150.88. The company has a market cap of $85.04 billion, a P/E ratio of 34.75, a PEG ratio of 1.47 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the firm earned $0.24 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Airbnb will post 4.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kenneth I. Chenault sold 8,346 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the transaction, the director directly owned 40,879 shares of the company’s stock, valued at $6,131,850. This trade represents a 16.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 2,460 shares of Airbnb stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total transaction of $369,000.00. Following the completion of the sale, the director owned 2,595,119 shares of the company’s stock, valued at $389,267,850. This trade represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,231,864 shares of company stock worth $308,474,278 over the last ninety days. Insiders own 27.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harris Associates L P grew its holdings in shares of Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after buying an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC raised its stake in Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after acquiring an additional 47,966 shares during the last quarter. AQR Capital Management LLC lifted its position in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after acquiring an additional 2,492,847 shares during the period. Clearbridge Investments LLC grew its stake in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after purchasing an additional 216,455 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its stake in Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after purchasing an additional 981,624 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.