Airbnb (NASDAQ:ABNB) PT Set at $124.00 by BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Airbnb (NASDAQ:ABNB) from $121.00 to $124.00, indicating a potential downside of 4.98% from the previous close.
• Airbnb reported $1.03 earnings per share in its latest quarterly results, surpassing analyst expectations of $0.92.
• Current consensus among analysts rates Airbnb's stock as a "Hold", with an average price target of $141.93.

Airbnb (NASDAQ:ABNB - Get Free Report) received a $124.00 price target from investment analysts at BMO Capital Markets in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has a "market perform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 2.46% from the stock's current price.

Several other brokerages have also recently commented on ABNB. Citigroup decreased their target price on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. Benchmark lowered their price objective on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Phillip Securities downgraded shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Friday, May 9th. Finally, Susquehanna lowered their price objective on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $143.59.

Airbnb Price Performance

Shares of ABNB opened at $121.02 on Thursday. Airbnb has a one year low of $99.88 and a one year high of $163.93. The company has a 50-day moving average of $134.96 and a two-hundred day moving average of $130.97. The stock has a market cap of $75.81 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same period last year, the company posted $0.86 earnings per share. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer directly owned 209,777 shares in the company, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,671,023 shares of company stock valued at $223,195,427 over the last three months. Corporate insiders own 27.91% of the company's stock.

Institutional Trading of Airbnb

A number of institutional investors and hedge funds have recently modified their holdings of ABNB. MTM Investment Management LLC boosted its holdings in Airbnb by 23.5% in the 2nd quarter. MTM Investment Management LLC now owns 12,689 shares of the company's stock valued at $1,679,000 after purchasing an additional 2,412 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Airbnb by 6.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 81,837 shares of the company's stock worth $10,830,000 after purchasing an additional 5,019 shares during the period. Itau Unibanco Holding S.A. raised its position in shares of Airbnb by 729.4% during the second quarter. Itau Unibanco Holding S.A. now owns 4,761 shares of the company's stock valued at $625,000 after buying an additional 4,187 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Airbnb by 188.6% during the second quarter. Citizens Financial Group Inc. RI now owns 25,634 shares of the company's stock valued at $3,392,000 after buying an additional 16,751 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Airbnb by 22.5% during the second quarter. Avantax Advisory Services Inc. now owns 32,205 shares of the company's stock valued at $4,262,000 after buying an additional 5,917 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

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.