Airbnb (NASDAQ:ABNB) Given New $200.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised Airbnb’s price target to $200 from $190 while maintaining a “market outperform” rating, implying roughly 20.5% upside from the reported $165.93 share price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $181.74. Recent targets range from $161 at Truist Financial to $220 at Rosenblatt Securities.
• Airbnb reported quarterly earnings of $1.37 per share and revenue of $3.61 billion, exceeding estimates, while revenue grew 16.3% year over year. However, insiders sold more than 2 million shares worth approximately $336.6 million during the last quarter.

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price increased by Citizens Jmp from $190.00 to $200.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's target price would indicate a potential upside of 20.53% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley initiated coverage on Airbnb in a report on Wednesday. They set an "equal weight" rating and a $170.00 price objective for the company. Rosenblatt Securities assumed coverage on Airbnb in a research report on Tuesday, September 1st. They issued a "buy" rating and a $220.00 price target for the company. Weiss Ratings raised Airbnb from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Truist Financial boosted their price objective on shares of Airbnb from $134.00 to $161.00 and gave the stock a "hold" rating in a research report on Thursday, September 10th. Finally, Royal Bank Of Canada set a $165.00 target price on shares of Airbnb in a research report on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $181.74.

Airbnb Stock Performance

Shares of ABNB opened at $165.93 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb has a 52-week low of $110.81 and a 52-week high of $193.45. The company has a 50-day simple moving average of $167.32 and a 200-day simple moving average of $146.81. The company has a market capitalization of $99.36 billion, a PE ratio of 37.71, a P/E/G ratio of 1.93 and a beta of 1.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. Equities research analysts predict that Airbnb will post 5.24 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $172.36, for a total transaction of $2,346,681.40. Following the sale, the insider directly owned 20,567 shares of the company's stock, valued at $3,544,928.12. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David C. Bernstein sold 1,489 shares of Airbnb stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.93, for a total transaction of $251,536.77. Following the sale, the chief accounting officer owned 47,024 shares of the company's stock, valued at approximately $7,943,764.32. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,008,050 shares of company stock valued at $336,626,970. 27.21% of the stock is currently owned by company insiders.

Institutional Trading of Airbnb

Hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC grew its stake in Airbnb by 1,236.7% in the 2nd quarter. Anchor Investment Management LLC now owns 401 shares of the company's stock worth $57,000 after acquiring an additional 371 shares during the period. Reynders McVeigh Capital Management LLC boosted its holdings in shares of Airbnb by 1.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 149,240 shares of the company's stock worth $21,356,000 after purchasing an additional 1,492 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Airbnb by 0.9% in the second quarter. Sequoia Financial Advisors LLC now owns 15,571 shares of the company's stock valued at $2,228,000 after purchasing an additional 132 shares during the period. Van Hulzen Asset Management LLC grew its position in shares of Airbnb by 281.2% in the second quarter. Van Hulzen Asset Management LLC now owns 28,777 shares of the company's stock valued at $4,118,000 after purchasing an additional 21,227 shares during the period. Finally, National Pension Service increased its stake in Airbnb by 4.6% in the second quarter. National Pension Service now owns 756,339 shares of the company's stock valued at $108,232,000 after purchasing an additional 33,546 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.

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