Airbnb, Inc. (NASDAQ:ABNB) Stock Has Consensus Target Price of $182.43 According to Analysts

Airbnb, Inc. (NASDAQ:ABNB – Get Free Report) has been assigned an average rating of “Moderate Buy” from the forty-four research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $182.43.

Several research firms recently issued reports on ABNB. BMO Capital Markets raised their price objective on shares of Airbnb from $146.00 to $165.00 and gave the stock a “market perform” rating in a research report on Monday, August 10th. Wall Street Zen lowered Airbnb from a “buy” rating to a “hold” rating in a report on Sunday, October 4th. Weiss Ratings raised shares of Airbnb from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Bank of America boosted their price target on Airbnb from $160.00 to $175.00 in a research report on Friday, August 7th. Finally, FBN Securities initiated coverage on shares of Airbnb in a research note on Friday, October 2nd. They issued an “outperform” rating on the stock.

Read Our Latest Stock Report on ABNB

Key Airbnb News

Here are the key news stories impacting Airbnb this week:

  • Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
  • Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
  • Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
  • Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
  • Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
  • Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 531,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the completion of the sale, the insider directly owned 171,370 shares of the company’s stock, valued at $29,888,641.70. This trade represents a 75.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 200,000 shares of Airbnb stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.79, for a total value of $34,958,000.00. Following the completion of the transaction, the chief executive officer owned 10,501,685 shares in the company, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,281,967 shares of company stock worth $230,470,521 over the last ninety days. 27.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Airbnb

Several hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its stake 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 worth $400,681,000 after purchasing an additional 3,139,315 shares during the period. Wellington Management Group LLP grew its stake in Airbnb by 80.6% in the second quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock worth $827,929,000 after purchasing an additional 2,581,539 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Airbnb during the second quarter valued at $330,085,000. Assenagon Asset Management S.A. boosted its position in Airbnb by 114.6% in the third quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock worth $546,454,000 after purchasing an additional 1,816,522 shares during the last quarter. Finally, MKA Charitable Fund bought a new stake in Airbnb during the second quarter valued at about $232,515,606. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

NASDAQ ABNB opened at $164.39 on Friday. The stock has a market cap of $98.44 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 1.88 and a beta of 1.26. The company’s 50 day moving average is $170.39 and its two-hundred day moving average is $146.67. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb has a 12 month low of $110.81 and a 12 month high of $193.45.

Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The company 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%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, research analysts anticipate that Airbnb will post 5.29 earnings per share for the current year.

Airbnb Company Profile

(Get Free Report)

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.

See Also

Analyst Recommendations for Airbnb (NASDAQ:ABNB)

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