Airbnb (NASDAQ:ABNB) Price Target Raised to $200.00

Airbnb (NASDAQ:ABNB) had its price target lifted by investment analysts at Citizens Jmp from $190.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 20.53% from the stock’s current price.

Several other research analysts have also weighed in on the company. Wells Fargo & Company increased their target price on Airbnb from $181.00 to $186.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. CICC Research initiated coverage on Airbnb in a research report on Friday, June 5th. They set an “outperform” rating and a $165.00 price target for the company. Susquehanna upped their price target on Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Benchmark raised their price objective on Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Wedbush raised Airbnb from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $152.00 to $200.00 in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.74.

Airbnb Price Performance

Airbnb stock opened at $165.93 on Friday. Airbnb has a 1 year low of $110.81 and a 1 year high of $193.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day moving average price of $167.32 and a 200 day moving average price of $146.81. The company has a market cap of $99.36 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 1.93 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results 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 the consensus estimate of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. Airbnb’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts predict that Airbnb will post 5.24 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 200,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of Airbnb stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the sale, the insider owned 171,370 shares in the company, valued at $29,888,641.70. This represents a 75.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,008,050 shares of company stock worth $336,626,970 over the last quarter. 27.21% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

Several large investors have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its holdings in Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in Airbnb during the 4th quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Airbnb during the 4th quarter worth approximately $31,000. Main Street Group LTD acquired a new position in shares of Airbnb in the 1st quarter valued at approximately $29,000. Finally, Western Wealth Management LLC acquired a new position in shares of Airbnb in the 1st quarter valued at approximately $34,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.