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

Airbnb (NASDAQ:ABNB) had its price target upped by Benchmark from $150.00 to $178.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 10.65% from the stock’s previous close.

Several other brokerages have also recently issued reports on ABNB. Wells Fargo & Company reduced their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price target on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a research report on Friday. Citigroup raised their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised Airbnb from a “sell” rating to a “neutral” rating and upped their target price for the company from $110.00 to $153.00 in a report on Friday. Five equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $145.74.

Airbnb Stock Up 14.1 %

ABNB traded up $19.83 during trading on Friday, hitting $160.87. The company had a trading volume of 14,905,070 shares, compared to its average volume of 4,718,263. The company has a market cap of $101.99 billion, a PE ratio of 56.56, a P/E/G ratio of 1.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a 50-day moving average of $133.00 and a 200-day moving average of $130.02.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. As a group, analysts forecast that Airbnb will post 3.97 earnings per share for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the transaction, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,417,704 shares of company stock worth $187,654,829. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Large investors have recently added to or reduced their stakes in the company. Edgewood Management LLC grew its holdings in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC boosted its position in Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after acquiring an additional 72,991 shares during the period. Clearbridge Investments LLC boosted its position in Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Pacer Advisors Inc. grew its position in Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after buying an additional 558,856 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Company Profile

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.