Airbnb (NASDAQ:ABNB) Stock Price Expected to Rise, DA Davidson Analyst Says

Airbnb (NASDAQ:ABNB) had its price objective lifted by DA Davidson from $125.00 to $131.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on ABNB. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. Wedbush increased their target price on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group increased their target price on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Finally, Mizuho reduced their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Six investment 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 data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus price target of $138.97.

Airbnb Trading Down 1.4 %

Shares of Airbnb stock opened at $133.35 on Monday. The firm has a market capitalization of $84.54 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company’s fifty day moving average price is $132.34 and its two-hundred day moving average price is $136.03. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued 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 for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the company earned $2.39 EPS. On average, analysts expect that Airbnb will post 4.04 EPS for the current year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction 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 owns 195,844 shares in the company, valued at $23,501,280. This represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares in the company, 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 three months, insiders have sold 641,094 shares of company stock valued at $81,077,447. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in Airbnb in the 1st quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in Airbnb in the 3rd quarter valued at about $25,000. Hollencrest Capital Management lifted its holdings in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. New Millennium Group LLC purchased a new position in Airbnb in the 2nd quarter valued at about $28,000. Finally, Cultivar Capital Inc. purchased a new position in Airbnb in the 2nd quarter valued at about $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

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.