B. Riley Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price objective increased by research analysts at B. Riley from $131.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price target suggests a potential downside of 9.87% from the stock’s current price.

Several other research analysts also recently commented on ABNB. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Friday. Wells Fargo & Company reduced their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler raised their target price on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $153.00 in a research note on Friday. Five investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven 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 a consensus price target of $145.74.

Airbnb Price Performance

Shares of NASDAQ ABNB traded up $19.83 during trading hours on Friday, reaching $160.87. 14,905,070 shares of the stock traded hands, compared to its average volume of 4,718,263. The company’s 50-day simple moving average is $133.00 and its two-hundred day simple moving average is $130.02. The company has a market capitalization of $101.99 billion, a P/E ratio of 56.56, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. Equities research analysts forecast that Airbnb will post 3.97 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $129.58, for a total transaction of $809,875.00. Following the completion of the sale, the chief financial officer now directly owns 484,988 shares in the company, valued at approximately $62,844,745.04. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the transaction, the chief accounting officer now owns 40,581 shares in the company, valued at approximately $5,559,597. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,417,704 shares of company stock worth $187,654,829. 27.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of Airbnb in the 4th quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the third quarter valued at $25,000. Berbice Capital Management LLC bought a new stake in Airbnb in the 4th quarter worth about $26,000. Hollencrest Capital Management raised its position in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Airbnb in the 3rd quarter worth about $30,000. 80.76% of the stock is owned by institutional investors.

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.