Brokerages Set Airbnb, Inc. (NASDAQ:ABNB) Target Price at $149.40

Airbnb, Inc. (NASDAQ:ABNB) has received a consensus rating of “Hold” from the thirty-three ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seventeen have issued a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $149.40.

ABNB has been the topic of a number of recent analyst reports. B. Riley Financial upgraded Airbnb from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $170.00 in a report on Monday, January 12th. Citizens Jmp upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Wednesday, February 4th. Barclays upped their price objective on Airbnb from $120.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. DA Davidson decreased their price objective on Airbnb from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Tigress Financial decreased their price objective on Airbnb from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 4,260 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $125.29, for a total transaction of $533,735.40. Following the transaction, the insider directly owned 49,250 shares in the company, valued at $6,170,532.50. This represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $130.99, for a total value of $491,212.50. Following the transaction, the chief financial officer owned 394,359 shares in the company, valued at $51,657,085.41. This trade represents a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 363,510 shares of company stock worth $46,447,668 over the last ninety days. Corporate insiders own 27.91% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Airbnb by 1.7% during the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after purchasing an additional 649,323 shares in the last quarter. Harris Associates L P lifted its stake in Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after purchasing an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC lifted its stake in Airbnb by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after purchasing an additional 47,966 shares in the last quarter. AQR Capital Management LLC lifted its stake in Airbnb by 58.4% during the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after purchasing an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Airbnb by 3.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after purchasing an additional 216,455 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

ABNB opened at $141.55 on Monday. Airbnb has a one year low of $109.79 and a one year high of $143.88. The stock has a market capitalization of $86.16 billion, a PE ratio of 35.04, a P/E/G ratio of 1.67 and a beta of 1.15. The business’s 50 day moving average price is $128.91 and its 200 day moving average price is $127.52.

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

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.