Bank of America Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its target price lifted by analysts at Bank of America from $154.00 to $159.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 22.92% from the stock’s current price.

ABNB has been the topic of a number of other research reports. Mizuho lowered their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Argus cut Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Susquehanna increased their price target on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $139.48.

Airbnb Stock Performance

Shares of ABNB opened at $129.35 on Wednesday. The stock has a 50 day moving average of $135.71 and a 200 day moving average of $134.42. The company has a market capitalization of $82.00 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 1.93 and a beta of 1.13. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm earned $2.39 earnings per share. As a group, sell-side analysts forecast that Airbnb will post 3.99 earnings per share for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total transaction of $78,348.00. Following the transaction, the chief technology officer now owns 195,244 shares in the company, valued at $25,494,961.52. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total value of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 764,592 shares of company stock valued at $101,185,969. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Edgewood Management LLC lifted its position in Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the period. Geode Capital Management LLC boosted its stake in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after acquiring an additional 146,761 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the period. Legal & General Group Plc lifted its holdings in shares of Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Airbnb by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after purchasing an additional 52,358 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.