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

Airbnb (NASDAQ:ABNB) had its price objective hoisted by Bank of America from $154.00 to $159.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 22.92% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Raymond James initiated coverage on shares of Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price for the company. Mizuho reduced their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Jefferies Financial Group boosted their price target on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Citigroup increased their price objective on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Monday. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus target price of $139.48.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $129.35 on Wednesday. The company has a 50 day moving average of $135.71 and a 200 day moving average of $134.42. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market cap of $82.00 billion, a P/E ratio of 45.39, a PEG ratio of 1.93 and a beta of 1.13.

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

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the completion of the sale, the director now directly owns 1,285,715 shares in the company, valued at approximately $169,560,094.20. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $130.58, for a total transaction of $78,348.00. Following the completion of the transaction, the chief technology officer now owns 195,244 shares in the company, valued at approximately $25,494,961.52. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 764,592 shares of company stock worth $101,185,969. 27.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airbnb

Hedge funds have recently made changes to their positions in the company. New Millennium Group LLC purchased a new stake in Airbnb in the second quarter worth about $28,000. Northwest Investment Counselors LLC bought a new position in shares of Airbnb during the third quarter valued at approximately $25,000. Hollencrest Capital Management increased its holdings in Airbnb by 6,666.7% during 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 period. Ashton Thomas Securities LLC purchased a new stake in Airbnb during the third quarter worth $30,000. Finally, Meeder Asset Management Inc. boosted its position in Airbnb by 73.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 375 shares of the company’s stock valued at $57,000 after acquiring an additional 159 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.