DA Davidson Boosts Airbnb (NASDAQ:ABNB) Price Target to $175.00

Airbnb (NASDAQ:ABNB) had its price target lifted by stock analysts at DA Davidson from $162.00 to $175.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential downside of 1.72% from the stock’s current price.

Several other equities research analysts also recently issued reports on ABNB. Canaccord Genuity Group set a $200.00 target price on shares of Airbnb in a research note on Friday. Robert W. Baird raised their price objective on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Citigroup raised their price target on Airbnb from $175.00 to $193.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of Airbnb from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Moderate Buy” and an average price target of $171.97.

Airbnb Stock Performance

NASDAQ ABNB opened at $178.07 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $143.98 and its two-hundred day moving average price is $135.89. Airbnb has a 1 year low of $110.81 and a 1 year high of $178.48. The firm has a market capitalization of $107.32 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, research analysts anticipate that Airbnb will post 4.97 EPS for the current year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 88,366 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total transaction of $12,884,646.46. Following the completion of the sale, the insider owned 12,370 shares of the company’s stock, valued at approximately $1,803,669.70. This represents a 87.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the sale, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,405,329 shares of company stock worth $334,175,423. 27.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Several institutional investors and hedge funds have recently modified their holdings of the business. Transamerica Financial Advisors LLC raised its stake in Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after acquiring an additional 112 shares in the last quarter. Entrust Financial LLC acquired a new stake in Airbnb in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. increased its holdings in shares of Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Airbnb by 397.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC bought a new stake in Airbnb during the 3rd quarter worth $27,000. 80.76% of the stock is currently owned by 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.