DA Davidson Boosts Airbnb (NASDAQ:ABNB) Price Target to $131.00

Airbnb (NASDAQ:ABNB) had its price objective raised by DA Davidson from $125.00 to $131.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential downside of 0.33% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Royal Bank of Canada decreased their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Susquehanna increased their price objective on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a report on Monday, November 11th. Finally, Wedbush boosted their target price on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $138.97.

Airbnb Trading Down 0.6 %

Shares of NASDAQ:ABNB opened at $131.44 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $83.33 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.87 and a beta of 1.15. The business’s 50-day moving average is $131.63 and its 200 day moving average is $136.06. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company earned $2.39 earnings per share. On average, research analysts predict that Airbnb will post 4.04 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at $2,083,378.56. The trade was a 72.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,206 shares of company stock valued at $51,738,467 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in Airbnb during the first quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the second quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new position in Airbnb in the first quarter valued at about $33,000. Cultivar Capital Inc. acquired a new stake in Airbnb in the second quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Airbnb during the 3rd quarter valued at about $25,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

About Airbnb

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.