Barclays Raises Airbnb (NASDAQ:ABNB) Price Target to $104.00

Airbnb (NASDAQ:ABNB) had its price target lifted by Barclays from $103.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 25.34% from the company’s current price.

ABNB has been the subject of a number of other reports. BTIG Research reissued a “neutral” rating on shares of Airbnb in a report on Wednesday, May 28th. Truist Financial reissued a “sell” rating and issued a $106.00 price target (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Cantor Fitzgerald reissued an “underweight” rating and issued a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Piper Sandler dropped their price objective on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Finally, JMP Securities restated a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.50.

Airbnb Trading Up 1.9%

Shares of ABNB stock opened at $139.30 on Wednesday. The stock’s fifty day simple moving average is $134.10 and its 200-day simple moving average is $130.74. Airbnb has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market capitalization of $87.26 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 2.56 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, sell-side analysts predict that Airbnb will post 4.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the transaction, the director directly owned 1,416,015 shares in the company, valued at approximately $182,184,489.90. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the transaction, the chief financial officer owned 485,080 shares in the company, valued at approximately $59,873,424.40. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,629,043 shares of company stock worth $210,678,753. Insiders own 27.91% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MJP Associates Inc. ADV boosted its position in shares of Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after acquiring an additional 67 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Airbnb by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after acquiring an additional 78 shares during the period. Ellevest Inc. boosted its position in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock valued at $349,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. boosted its position in shares of Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after acquiring an additional 80 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after acquiring an additional 83 shares during the period. 80.76% of the stock is owned by institutional investors.

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.