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

Airbnb (NASDAQ:ABNB) had its price target boosted by Truist Financial from $129.00 to $134.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 1.30% from the stock’s previous close.

ABNB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Airbnb in a research note on Friday, May 8th. Robert W. Baird set a $150.00 price objective on Airbnb in a research note on Friday, May 8th. HC Wainwright raised Airbnb to a “buy” rating in a research note on Monday, May 4th. Wedbush raised Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Finally, DA Davidson raised their price objective on Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Airbnb presently has an average rating of “Moderate Buy” and an average target price of $157.96.

Airbnb Stock Performance

NASDAQ:ABNB opened at $132.28 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb has a 12-month low of $110.81 and a 12-month high of $147.25. The stock has a 50-day moving average price of $134.91 and a 200 day moving average price of $131.36. The stock has a market capitalization of $79.73 billion, a P/E ratio of 32.58, a P/E/G ratio of 1.42 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last announced 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). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Airbnb’s quarterly revenue was up 17.9% on a year-over-year basis. Equities research analysts forecast that Airbnb will post 4.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 60,136 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $145.70, for a total transaction of $8,761,815.20. Following the transaction, the insider directly owned 11,920 shares in the company, valued at $1,736,744. This trade represents a 83.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,677,117 shares of company stock worth $226,595,468 in the last ninety days. 27.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABNB. Harris Associates L P increased its holdings in shares of Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after acquiring an additional 4,292,383 shares during the period. Independent Franchise Partners LLP purchased a new position in shares of Airbnb in the 3rd quarter valued at $505,672,000. Norges Bank purchased a new position in shares of Airbnb in the 4th quarter valued at $480,332,000. Jennison Associates LLC increased its holdings in shares of Airbnb by 9,331.0% in 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $403,782,000 after acquiring an additional 2,724,682 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.