Analysts Set Airbnb, Inc. (NASDAQ:ABNB) Price Target at $172.00

Airbnb, Inc. (NASDAQ:ABNB) has received an average rating of “Moderate Buy” from the thirty-nine research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, twenty-three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $172.00.

A number of research analysts have recently issued reports on ABNB shares. Citizens Jmp upped their price target on Airbnb from $170.00 to $190.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. DA Davidson upped their target price on shares of Airbnb from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $168.00 price target on shares of Airbnb in a research note on Monday, August 10th. Wedbush raised shares of Airbnb from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $152.00 to $200.00 in a report on Friday, August 7th. Finally, Canaccord Genuity Group set a $200.00 target price on shares of Airbnb in a report on Friday, August 7th.

Airbnb Trading Up 2.2%

NASDAQ:ABNB opened at $183.25 on Friday. The stock has a market cap of $109.73 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.13 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $150.83 and its 200-day moving average price is $138.38. Airbnb has a 52 week low of $110.81 and a 52 week high of $187.12.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts forecast that Airbnb will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the sale, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 11,206,389 shares in the company, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,107,936 shares of company stock valued at $458,993,808 in the last ninety days. 27.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors have recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI raised its position in Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock worth $727,000 after acquiring an additional 76 shares in the last quarter. BOKF NA boosted its position in shares of Airbnb by 11.0% during the 4th quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after purchasing an additional 78 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Airbnb by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after purchasing an additional 86 shares during the last quarter. FSB Premier Wealth Management Inc. grew its stake in shares of Airbnb by 3.4% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company’s stock worth $365,000 after purchasing an additional 89 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Airbnb by 3.0% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock worth $441,000 after purchasing an additional 90 shares in the last quarter. 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.