Airbnb (NASDAQ:ABNB) Price Target Raised to $200.00

Airbnb (NASDAQ:ABNB) had its price objective raised by investment analysts at Robert W. Baird from $175.00 to $200.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 9.93% from the company’s previous close.

Several other equities research analysts have also recently issued reports on ABNB. Barclays raised their price objective on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a report on Tuesday, August 11th. UBS Group boosted their price target on Airbnb from $163.00 to $172.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Royal Bank Of Canada set a $165.00 price objective on Airbnb in a report on Monday, August 10th. Finally, Susquehanna lifted their price objective on shares of Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb has an average rating of “Moderate Buy” and an average price target of $178.40.

Airbnb Stock Performance

NASDAQ:ABNB opened at $181.94 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $108.94 billion, a PE ratio of 41.35, a P/E/G ratio of 2.11 and a beta of 1.16. The firm has a 50 day simple moving average of $163.73 and a 200-day simple moving average of $144.53. Airbnb has a 1-year low of $110.81 and a 1-year high of $193.45.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. Airbnb’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, equities analysts expect that Airbnb will post 5.23 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia Jr. sold 294,903 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the completion of the sale, the chief executive officer directly owned 10,501,685 shares of the company’s stock, valued at approximately $1,835,589,521.15. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,288,689 shares of company stock valued at $374,988,733. Company insiders own 27.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Airbnb by 13,162.3% during the second quarter. California State Teachers Retirement System now owns 91,253,439 shares of the company’s stock valued at $13,058,367,000 after purchasing an additional 90,565,372 shares during the last quarter. Harris Associates L P increased its holdings in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after buying an additional 4,292,383 shares in the last quarter. Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter valued at $480,332,000. Jennison Associates LLC lifted its position in shares of Airbnb by 9,331.0% during the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after acquiring an additional 3,139,315 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Airbnb by 453.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after acquiring an additional 2,724,682 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

About Airbnb

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.