Bank of America Increases Airbnb (NASDAQ:ABNB) Price Target to $168.00

Airbnb (NASDAQ:ABNB) had its target price upped by Bank of America from $155.00 to $168.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 3.79% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Susquehanna raised their target price on Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, February 14th. Royal Bank of Canada increased their price target on Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Evercore ISI downgraded Airbnb from an “outperform” rating to an “in-line” rating and set a $136.00 price target on the stock. in a research report on Friday, November 17th. Needham & Company LLC increased their price target on Airbnb from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on Airbnb from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $144.96.

Airbnb Stock Up 0.8 %

NASDAQ ABNB traded up $1.22 during midday trading on Thursday, hitting $161.86. 4,295,419 shares of the company traded hands, compared to its average volume of 5,157,958. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $104.73 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The company’s 50-day simple moving average is $149.91 and its 200-day simple moving average is $138.18. Airbnb has a 52 week low of $103.55 and a 52 week high of $168.19.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. As a group, equities research analysts forecast that Airbnb will post 4.66 earnings per share for the current year.

Insider Activity

In other news, CEO Brian Chesky sold 76,272 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $147.54, for a total value of $11,253,170.88. Following the completion of the sale, the chief executive officer now directly owns 15,562,715 shares of the company’s stock, valued at $2,296,122,971.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian Chesky sold 76,272 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $147.54, for a total transaction of $11,253,170.88. Following the completion of the transaction, the chief executive officer now directly owns 15,562,715 shares of the company’s stock, valued at $2,296,122,971.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $163.00, for a total transaction of $97,800.00. Following the transaction, the chief technology officer now directly owns 144,931 shares of the company’s stock, valued at $23,623,753. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,258,141 shares of company stock valued at $180,152,812. Insiders own 30.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Airbnb by 9.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 772,642 shares of the company’s stock valued at $132,709,000 after acquiring an additional 63,601 shares during the period. TradeLink Capital LLC purchased a new position in shares of Airbnb in the 1st quarter valued at $945,000. Synovus Financial Corp raised its stake in shares of Airbnb by 22.5% in the 1st quarter. Synovus Financial Corp now owns 1,490 shares of the company’s stock valued at $256,000 after acquiring an additional 274 shares during the period. Dimensional Fund Advisors LP grew its holdings in Airbnb by 27.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519 shares of the company’s stock valued at $433,000 after purchasing an additional 549 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Airbnb during the 1st quarter valued at $2,125,000. 44.19% of the stock is currently owned by institutional investors and hedge funds.

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.