Airbnb (NASDAQ:ABNB) Price Target Raised to $136.00

Airbnb (NASDAQ:ABNB) had its price objective upped by Wells Fargo & Company from $133.00 to $136.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ABNB has been the topic of several other research reports. BMO Capital Markets raised their price target on Airbnb from $130.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, February 13th. Jefferies Financial Group boosted their price objective on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Cantor Fitzgerald set a $121.00 target price on shares of Airbnb in a research note on Friday, February 13th. TD Cowen lifted their price target on shares of Airbnb from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Sanford C. Bernstein dropped their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $147.92.

Airbnb Price Performance

ABNB stock opened at $124.95 on Wednesday. The company has a 50 day moving average price of $128.06 and a 200 day moving average price of $126.93. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $143.88. The stock has a market capitalization of $76.06 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. As a group, equities analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the transaction, the director owned 460,015 shares in the company, valued at approximately $61,310,799.20. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $130.00, for a total value of $487,500.00. Following the transaction, the chief financial officer owned 402,417 shares of the company’s stock, valued at $52,314,210. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 359,760 shares of company stock valued at $46,669,275. 27.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Airbnb by 3.5% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock worth $116,873,000 after acquiring an additional 32,501 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of Airbnb by 15.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock valued at $8,022,000 after purchasing an additional 8,636 shares in the last quarter. Cerity Partners LLC grew its position in shares of Airbnb by 18.1% in the 3rd quarter. Cerity Partners LLC now owns 364,824 shares of the company’s stock valued at $44,297,000 after purchasing an additional 55,838 shares during the period. National Pension Service grew its position in shares of Airbnb by 1.1% in the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company’s stock valued at $133,126,000 after purchasing an additional 12,453 shares during the period. Finally, Abacus FCF Advisors LLC increased its stake in Airbnb by 7.8% during the 3rd quarter. Abacus FCF Advisors LLC now owns 135,577 shares of the company’s stock worth $16,462,000 after purchasing an additional 9,864 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.