Airbnb (NASDAQ:ABNB) Price Target Raised to $134.00 at Truist Financial

Airbnb (NASDAQ:ABNB) had its price objective increased by analysts at Truist Financial from $129.00 to $134.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 1.30% from the stock’s current price.

A number of other research firms also recently issued reports on ABNB. Needham & Company LLC began coverage on Airbnb in a research note on Monday, May 4th. They set a “buy” rating on the stock. Jefferies Financial Group set a $160.00 price objective on Airbnb in a research note on Friday, June 5th. DA Davidson increased their price objective on Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a report on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 target price on shares of Airbnb in a research report on Thursday, May 21st. Finally, Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a report on Monday, May 4th. Two equities 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.96.

Airbnb Stock Performance

NASDAQ ABNB opened at $132.28 on Friday. The company has a fifty day moving average of $134.91 and a two-hundred day moving average of $131.36. The company has a market capitalization of $79.73 billion, a PE ratio of 32.58, a P/E/G ratio of 1.42 and a beta of 1.16. Airbnb has a 1 year low of $110.81 and a 1 year high of $147.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last posted its 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 return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, analysts expect that Airbnb will post 4.91 earnings per share for the current year.

Insider Activity

In related news, CFO Elinor Mertz sold 7,433 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $136.24, for a total value of $1,012,671.92. Following the completion of the sale, the chief financial officer owned 449,040 shares in the company, valued at $61,177,209.60. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 265,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $135.45, for a total transaction of $35,894,250.00. Following the completion of the sale, the director owned 3,182,355 shares of the company’s stock, valued at approximately $431,049,984.75. The trade was a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,677,117 shares of company stock valued at $226,595,468 over the last quarter. Corporate insiders own 27.21% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently modified their holdings of ABNB. Glenmede Trust Co. NA lifted its holdings in shares of Airbnb by 0.3% in the 1st quarter. Glenmede Trust Co. NA now owns 124,185 shares of the company’s stock valued at $15,682,000 after buying an additional 331 shares during the period. Wellington Grp LLC purchased a new stake in shares of Airbnb in the first quarter valued at approximately $48,000. Liontrust Investment Partners LLP grew its holdings in Airbnb by 8.1% during the first quarter. Liontrust Investment Partners LLP now owns 77,227 shares of the company’s stock worth $9,752,000 after acquiring an additional 5,806 shares during the period. Western Wealth Management LLC acquired a new position in Airbnb during the first quarter worth $34,000. Finally, Ariadne Wealth Management LP raised its position in Airbnb by 35.8% in the first quarter. Ariadne Wealth Management LP now owns 3,636 shares of the company’s stock worth $459,000 after acquiring an additional 958 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Company Profile

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.