Airbnb (NASDAQ:ABNB) Price Target Raised to $131.00 at DA Davidson

Airbnb (NASDAQ:ABNB) had its price target hoisted by DA Davidson from $125.00 to $131.00 in a research report report published on Monday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other analysts have also issued reports on ABNB. Wedbush increased their target price on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America reiterated a “hold” rating and set a $142.00 price objective (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Piper Sandler boosted their target price on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price target on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Finally, Barclays lifted their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $138.97.

Airbnb Price Performance

NASDAQ:ABNB opened at $132.19 on Monday. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The firm’s 50-day simple moving average is $131.30 and its 200 day simple moving average is $136.26. The firm has a market cap of $83.80 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 1.87 and a beta of 1.15.

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

Insider Activity

In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 11,635 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This represents a 41.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,206 shares of company stock valued at $51,738,467. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ABNB. Pacer Advisors Inc. grew its stake in shares of Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares during the period. Assenagon Asset Management S.A. grew its stake in Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the period. Farallon Capital Management LLC bought a new stake in shares of Airbnb during the first quarter valued at approximately $265,292,000. Finally, Meritage Group LP acquired a new position in shares of Airbnb during the third quarter worth approximately $160,985,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

About Airbnb

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.