Airbnb (NASDAQ:ABNB – Get Free Report) had its target price hoisted by equities research analysts at Truist Financial from $116.00 to $126.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential downside of 11.73% from the stock’s current price.
ABNB has been the topic of several other reports. Melius initiated coverage on shares of Airbnb in a research note on Monday, July 31st. They set a “neutral” rating and a $160.00 price target on the stock. Wedbush raised their price objective on shares of Airbnb from $130.00 to $145.00 in a research note on Friday, August 4th. Susquehanna raised their price objective on shares of Airbnb from $155.00 to $165.00 in a research note on Monday, August 7th. Argus raised their price objective on shares of Airbnb from $124.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Airbnb from $102.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.81.
Get Our Latest Stock Analysis on Airbnb
Airbnb Price Performance
Airbnb (NASDAQ:ABNB – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.77 by $0.21. Airbnb had a net margin of 25.31% and a return on equity of 42.90%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. Airbnb’s revenue was up 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb will post 3.72 earnings per share for the current fiscal year.
Insider Activity at Airbnb
In related news, Director Joseph Gebbia sold 516,666 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $150.42, for a total value of $77,716,899.72. Following the completion of the transaction, the director now owns 1,666,769 shares of the company’s stock, valued at $250,715,392.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Catherine C. Powell sold 6,900 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $145.00, for a total value of $1,000,500.00. Following the completion of the transaction, the insider now owns 121,319 shares of the company’s stock, valued at $17,591,255. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 516,666 shares of Airbnb stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $150.42, for a total transaction of $77,716,899.72. Following the completion of the transaction, the director now directly owns 1,666,769 shares of the company’s stock, valued at approximately $250,715,392.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,147,348 shares of company stock valued at $295,803,385. Corporate insiders own 30.84% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ABNB. Pinnacle Associates Ltd. raised its position in shares of Airbnb by 3.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,056 shares of the company’s stock valued at $263,000 after buying an additional 66 shares in the last quarter. New World Advisors LLC raised its position in shares of Airbnb by 2.1% in the 2nd quarter. New World Advisors LLC now owns 3,220 shares of the company’s stock valued at $413,000 after buying an additional 67 shares in the last quarter. Column Capital Advisors LLC raised its position in shares of Airbnb by 5.8% in the 1st quarter. Column Capital Advisors LLC now owns 1,455 shares of the company’s stock valued at $181,000 after buying an additional 80 shares in the last quarter. Accredited Investors Inc. raised its position in shares of Airbnb by 4.0% in the 2nd quarter. Accredited Investors Inc. now owns 2,190 shares of the company’s stock valued at $281,000 after buying an additional 85 shares in the last quarter. Finally, Institutional & Family Asset Management LLC raised its position in shares of Airbnb by 36.9% in the 2nd quarter. Institutional & Family Asset Management LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 87 shares in the last quarter. Institutional investors own 44.19% 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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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