Bank of America Increases Airbnb (NASDAQ:ABNB) Price Target to $159.00

Airbnb (NASDAQ:ABNB) had its price target hoisted by equities research analysts at Bank of America from $154.00 to $159.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 20.24% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. UBS Group boosted their price target on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Truist Financial cut their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.48.

Airbnb Stock Performance

Shares of ABNB opened at $132.24 on Wednesday. The stock has a 50-day moving average of $135.94 and a 200-day moving average of $134.50. Airbnb has a one year low of $110.38 and a one year high of $170.10. The company has a market cap of $83.84 billion, a PE ratio of 46.40, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company earned $2.39 earnings per share. On average, equities research analysts predict that Airbnb will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 76,923 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the sale, the chief executive officer now directly owns 12,616,300 shares in the company, valued at $1,765,525,022. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,307 shares of company stock valued at $72,926,063. 27.83% of the stock is owned by company insiders.

Institutional Trading of Airbnb

A number of hedge funds have recently made changes to their positions in ABNB. Northwest Investment Counselors LLC bought a new position in Airbnb during the third quarter worth $25,000. Hollencrest Capital Management lifted its stake in Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Airbnb during the second quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in Airbnb in the 3rd quarter valued at about $30,000. Finally, Quarry LP bought a new position in shares of Airbnb in the third quarter worth $55,000. Institutional investors and hedge funds 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.