Susquehanna Issues Positive Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price target lifted by Susquehanna from $130.00 to $160.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

ABNB has been the subject of several other research reports. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Sanford C. Bernstein dropped their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Bank of America reiterated a “hold” rating and issued a $142.00 price target (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research report on Friday. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $139.31.

Airbnb Stock Performance

ABNB traded down $3.11 on Monday, reaching $134.29. The company had a trading volume of 760,725 shares, compared to its average volume of 4,480,285. The stock has a market cap of $86.16 billion, a P/E ratio of 48.21, a P/E/G ratio of 1.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company’s fifty day moving average is $129.54 and its 200 day moving average is $137.20.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 33.36%. During the same quarter last year, the firm earned $2.39 earnings per share. As a group, analysts predict that Airbnb will post 4.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 over the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Institutional investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC bought a new stake in shares of Airbnb in the third quarter valued at $925,000. First Horizon Advisors Inc. raised its position in shares of Airbnb by 19.3% in the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock valued at $74,000 after purchasing an additional 94 shares during the period. Advisors Asset Management Inc. raised its position in shares of Airbnb by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 14,368 shares of the company’s stock valued at $1,822,000 after purchasing an additional 1,479 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Airbnb during the 3rd quarter valued at approximately $34,982,000. Finally, Commerce Bank boosted its holdings in Airbnb by 14.2% in the 3rd quarter. Commerce Bank now owns 21,338 shares of the company’s stock worth $2,706,000 after buying an additional 2,658 shares during the period. Institutional investors own 80.76% 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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.