Airbnb (NASDAQ:ABNB) Price Target Increased to $129.00 by Analysts at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its price objective hoisted by investment analysts at Wells Fargo & Company from $127.00 to $129.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 15.04% from the company’s current price.

Several other equities analysts have also recently issued reports on ABNB. UBS Group upped their target price on shares of Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. B. Riley assumed coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 target price on the stock. Citigroup decreased their target price on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Bank of America raised their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, Tigress Financial raised their target price on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $152.44.

Airbnb Stock Performance

Shares of ABNB stock opened at $151.84 on Tuesday. Airbnb has a one year low of $113.24 and a one year high of $170.10. The company’s 50-day moving average is $149.14 and its 200 day moving average is $151.42. The company has a market capitalization of $97.79 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm posted $0.18 EPS. Airbnb’s revenue for the quarter was up 17.8% on a year-over-year basis. Sell-side analysts expect that Airbnb will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $157.24, for a total value of $94,344.00. Following the completion of the sale, the chief technology officer now directly owns 221,104 shares in the company, valued at $34,766,392.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $157.24, for a total value of $94,344.00. Following the completion of the sale, the chief technology officer now directly owns 221,104 shares in the company, valued at $34,766,392.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $151.95, for a total value of $17,532,750.75. Following the completion of the sale, the chief executive officer now owns 13,914,302 shares of the company’s stock, valued at $2,114,278,188.90. The disclosure for this sale can be found here. Insiders sold a total of 539,707 shares of company stock worth $80,247,207 over the last three months. 27.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Gotham Asset Management LLC bought a new position in Airbnb in the 3rd quarter worth about $353,000. Integrated Wealth Concepts LLC increased its holdings in Airbnb by 0.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 13,937 shares of the company’s stock worth $1,912,000 after purchasing an additional 103 shares during the period. Public Sector Pension Investment Board purchased a new position in Airbnb during the 3rd quarter worth $6,266,000. Deutsche Bank AG increased its holdings in Airbnb by 21.7% during the 3rd quarter. Deutsche Bank AG now owns 689,342 shares of the company’s stock worth $94,585,000 after purchasing an additional 122,774 shares during the period. Finally, VisionPoint Advisory Group LLC increased its holdings in Airbnb by 227.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 436 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.