Airbnb (NASDAQ:ABNB – Get Free Report) had its price objective lifted by DA Davidson from $175.00 to $220.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 16.14% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on ABNB. KeyCorp reiterated a “sector weight” rating on shares of Airbnb in a report on Monday, August 10th. Morgan Stanley raised their target price on Airbnb from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, July 30th. Piper Sandler set a $150.00 price target on Airbnb in a research report on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a research note on Friday, August 7th. Finally, Wedbush raised Airbnb from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $152.00 to $200.00 in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.59.
View Our Latest Stock Report on Airbnb
Airbnb Price Performance
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts expect that Airbnb will post 5.23 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Elinor Mertz sold 3,748 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $153.34, for a total value of $574,718.32. Following the sale, the chief financial officer owned 441,542 shares of the company’s stock, valued at $67,706,050.28. The trade was a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 19,659 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $190.73, for a total value of $3,749,561.07. Following the completion of the sale, the insider owned 20,567 shares in the company, valued at $3,922,743.91. This trade represents a 48.87% 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 2,405,634 shares of company stock valued at $386,670,578. 27.21% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Airbnb
Large investors have recently made changes to their positions in the company. North Dakota State Investment Board bought a new stake in Airbnb during the fourth quarter worth $2,785,000. North Star Asset Management Inc. raised its stake in Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock valued at $10,663,000 after buying an additional 9,294 shares during the period. Carmignac Gestion increased its holdings in shares of Airbnb by 40.8% during the 1st quarter. Carmignac Gestion now owns 659,570 shares of the company’s stock worth $83,290,000 after acquiring an additional 191,200 shares during the last quarter. Oxbow Advisors LLC lifted its holdings in Airbnb by 122.9% during the 4th quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock valued at $6,842,000 after purchasing an additional 27,793 shares during the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Airbnb by 5.8% in the fourth quarter. Markel Group Inc. now owns 240,289 shares of the company’s stock valued at $32,612,000 after purchasing an additional 13,156 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.
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.
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