Airbnb (NASDAQ:ABNB) Price Target Raised to $156.00 at UBS Group

Key Points

• UBS Group has raised its price target for Airbnb to $156.00, indicating a potential upside of 9.74% from the stock's previous close, while maintaining a "neutral" rating.
• In contrast, JPMorgan Chase lowered its target for Airbnb from $160.00 to $115.00, while other analysts have offered varied price targets and ratings, resulting in an average rating of "Hold" with a price target of $142.10.
• Recent insider trading revealed significant stock sales by CEO Brian Chesky and CFO Elinor Mertz, with a decrease in their holdings following the transactions.

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price raised by equities researchers at UBS Group from $137.00 to $156.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 9.74% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Barclays raised their price objective on Airbnb from $103.00 to $104.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Evercore ISI decreased their target price on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. BNP Paribas upgraded Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Finally, JMP Securities restated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has an average rating of "Hold" and an average price target of $142.10.

Airbnb Stock Performance

ABNB traded up $0.85 during trading on Monday, reaching $142.16. 2,808,128 shares of the stock were exchanged, compared to its average volume of 5,206,343. The stock's 50 day moving average price is $134.66 and its two-hundred day moving average price is $131.04. The stock has a market cap of $89.05 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.13. Airbnb has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. Equities research analysts predict that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares of the company's stock, valued at approximately $5,235,864. The trade was a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the transaction, the chief financial officer owned 485,080 shares in the company, valued at $59,873,424.40. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,656,258 shares of company stock valued at $219,764,369. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after acquiring an additional 604,120 shares during the last quarter. Harris Associates L P raised its position in Airbnb by 86.0% in 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 during the period. Geode Capital Management LLC raised its position in Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after purchasing an additional 72,991 shares during the period. Northern Trust Corp raised its position in Airbnb by 2.5% in the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock valued at $525,979,000 after purchasing an additional 106,135 shares during the period. Finally, AQR Capital Management LLC raised its position in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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