Airbnb (NASDAQ:ABNB) Price Target Raised to $130.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised Airbnb's price target from $120.00 to $130.00, indicating an 8.50% potential upside from the current stock price, although they maintain a "neutral" rating on the stock.
• Airbnb's stock has recently dropped 8.2%, trading at $119.81, with significant trading volume exceeding its average.
• Despite a drop in stock price, Airbnb reported earnings of $1.03 per share, surpassing analyst expectations, and showing a year-over-year revenue increase of 12.7%.

Airbnb (NASDAQ:ABNB - Get Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $120.00 to $130.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.50% from the stock's current price.

ABNB has been the topic of a number of other research reports. Citigroup decreased their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Wedbush decreased their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Royal Bank Of Canada lifted their price objective on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Evercore ISI cut their price target on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $141.80.

Airbnb Stock Down 8.2%

Shares of ABNB stock traded down $10.69 during trading hours on Thursday, reaching $119.81. The company's stock had a trading volume of 14,014,085 shares, compared to its average volume of 5,288,420. The company has a market capitalization of $75.05 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.42 and a beta of 1.13. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm's 50 day simple moving average is $135.27 and its 200-day simple moving average is $131.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Airbnb will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer directly owned 467,611 shares of the company's stock, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the transaction, the chief executive officer directly owned 40,800 shares in the company, valued at $5,235,864. This trade represents a 16.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 over the last three months. 27.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Airbnb by 1.6% during the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after acquiring an additional 604,120 shares in the last quarter. Harris Associates L P lifted its position in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Northern Trust Corp boosted its holdings in Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after buying an additional 106,135 shares during the period. AQR Capital Management LLC lifted its stake in Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

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.

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