Airbnb (NASDAQ:ABNB) Given New $136.00 Price Target at Wells Fargo & Company

Airbnb (NASDAQ:ABNB) had its target price hoisted by Wells Fargo & Company from $133.00 to $136.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.37% from the company’s previous close.

Several other research analysts have also issued reports on the company. Citigroup raised Airbnb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Mizuho increased their price objective on Airbnb from $156.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Wedbush reissued a “neutral” rating and set a $130.00 price objective on shares of Airbnb in a research report on Friday, February 13th. Truist Financial upgraded shares of Airbnb from a “sell” rating to a “hold” rating and boosted their target price for the company from $107.00 to $129.00 in a report on Thursday, March 26th. Finally, Citizens Jmp upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $147.92.

Airbnb Price Performance

Airbnb stock traded up $0.38 during trading hours on Wednesday, reaching $126.66. The stock had a trading volume of 1,056,883 shares, compared to its average volume of 4,576,922. The company has a fifty day simple moving average of $128.54 and a 200-day simple moving average of $126.93. Airbnb has a 52 week low of $99.88 and a 52 week high of $143.88. The stock has a market cap of $77.10 billion, a PE ratio of 31.33, a PEG ratio of 1.51 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. Research analysts predict that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $132.51, for a total value of $7,685,580.00. Following the completion of the sale, the director owned 228,015 shares of the company’s stock, valued at approximately $30,214,267.65. The trade was a 20.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $487,500.00. Following the sale, the chief financial officer owned 402,417 shares of the company’s stock, valued at approximately $52,314,210. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 363,510 shares of company stock worth $47,179,050. 27.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Transamerica Financial Advisors LLC increased its position in shares of Airbnb by 143.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Airbnb by 97.0% in the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Entrust Financial LLC bought a new stake in Airbnb during the fourth quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in Airbnb during the third quarter valued at approximately $25,000. Finally, Aventura Private Wealth LLC purchased a new stake in Airbnb during the fourth quarter valued at approximately $29,000. 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.