Airbnb (NASDAQ:ABNB) Price Target Raised to $134.00 at Truist Financial

Airbnb (NASDAQ:ABNB) had its target price increased by Truist Financial from $129.00 to $134.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

ABNB has been the subject of several other reports. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a report on Friday, May 8th. Wells Fargo & Company boosted their price objective on shares of Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a report on Friday, May 8th. HSBC cut shares of Airbnb from a “hold” rating to a “hold” rating in a report on Monday, May 4th. Raymond James Financial raised shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group set a $160.00 target price on shares of Airbnb in a report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $157.96.

Airbnb Price Performance

ABNB opened at $132.28 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $134.91 and a 200-day moving average price of $131.36. Airbnb has a twelve month low of $110.81 and a twelve month high of $147.25. The stock has a market capitalization of $79.73 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.42 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts forecast that Airbnb will post 4.91 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 60,136 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $145.70, for a total value of $8,761,815.20. Following the completion of the transaction, the insider directly owned 11,920 shares in the company, valued at $1,736,744. This represents a 83.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the completion of the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at approximately $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,677,117 shares of company stock worth $226,595,468 over the last three months. 27.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of hedge funds have recently modified their holdings of the company. Sumitomo Life Insurance Co. boosted its position in shares of Airbnb by 15.0% during the third quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock worth $8,022,000 after acquiring an additional 8,636 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock worth $4,478,000 after acquiring an additional 13,818 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Airbnb by 30.7% during the third quarter. ARK Investment Management LLC now owns 1,035,828 shares of the company’s stock worth $125,770,000 after acquiring an additional 243,299 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Airbnb by 14.6% during the third quarter. Victory Capital Management Inc. now owns 1,529,652 shares of the company’s stock worth $185,730,000 after acquiring an additional 195,055 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in shares of Airbnb during the fourth quarter worth $2,785,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.