Robert W. Baird Raises Airbnb (NASDAQ:ABNB) Price Target to $160.00

Airbnb (NASDAQ:ABNB) had its target price increased by stock analysts at Robert W. Baird from $150.00 to $160.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 9.92% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on ABNB. Scotiabank began coverage on shares of Airbnb in a research note on Monday, May 4th. They set an “outperform” rating on the stock. Truist Financial boosted their target price on shares of Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Evercore reiterated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Finally, Citizens Jmp lifted their price objective on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.36.

Airbnb Stock Performance

NASDAQ:ABNB opened at $145.56 on Monday. The company has a market cap of $87.73 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.56 and a beta of 1.16. Airbnb has a fifty-two week low of $110.81 and a fifty-two week high of $147.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a fifty day moving average price of $137.36 and a 200-day moving average price of $132.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, equities analysts anticipate that Airbnb will post 4.91 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 30,743 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the completion of the transaction, the chief executive officer directly owned 10,701,685 shares in the company, valued at approximately $1,481,113,204. This represents a 0.29% 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, insider Nathan Blecharczyk sold 2,113 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $145.09, for a total transaction of $306,575.17. Following the transaction, the insider owned 12,370 shares of the company’s stock, valued at $1,794,763.30. This trade represents a 14.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,005,339 shares of company stock worth $273,061,091. Corporate insiders own 27.21% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently bought and sold shares of ABNB. Aster Capital Management DIFC Ltd bought a new position in Airbnb in the third quarter valued at about $25,000. ORG Partners LLC grew its holdings in shares of Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in shares of Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after buying an additional 112 shares during the period. Entrust Financial LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after buying an additional 105 shares during the period. 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.