Robert W. Baird Issues Positive Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Key Points

• Robert W. Baird raised Airbnb’s price target from $175 to $200 and maintained an “outperform” rating, implying about 9.93% upside from the reported share price.
• Airbnb exceeded quarterly expectations, reporting $1.37 in EPS versus $1.26 expected and $3.61 billion in revenue, up 16.3% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and average price target of $178.40, although insiders sold about $375 million of stock over the past 90 days.

Airbnb (NASDAQ:ABNB - Get Free Report) had its price objective increased by analysts at Robert W. Baird from $175.00 to $200.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's target price indicates a potential upside of 9.93% from the company's current price.

A number of other research firms have also issued reports on ABNB. Citizens Jmp raised their price target on Airbnb from $170.00 to $190.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. The Goldman Sachs Group set a $170.00 price objective on Airbnb in a research report on Tuesday, July 28th. Oppenheimer boosted their target price on Airbnb from $180.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Susquehanna upped their price target on Airbnb from $170.00 to $200.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Finally, Barclays increased their price target on Airbnb from $122.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.40.

Airbnb Stock Performance

ABNB opened at $181.94 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a market cap of $108.94 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The business's 50 day moving average is $163.73 and its two-hundred day moving average is $144.53. Airbnb has a 52 week low of $110.81 and a 52 week high of $193.45.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. Airbnb's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. On average, research analysts predict that Airbnb will post 5.23 EPS for the current year.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the business's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $187.27, for a total transaction of $2,549,681.05. Following the sale, the insider owned 20,567 shares of the company's stock, valued at approximately $3,851,582.09. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David Bernstein sold 5,224 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $182.49, for a total transaction of $953,327.76. Following the transaction, the chief accounting officer owned 48,513 shares in the company, valued at $8,853,137.37. The trade was a 9.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,288,689 shares of company stock worth $374,988,733 over the last 90 days. Company insiders own 27.21% of the company's stock.

Hedge Funds Weigh In On Airbnb

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Airbnb by 13,162.3% in the second quarter. California State Teachers Retirement System now owns 91,253,439 shares of the company's stock valued at $13,058,367,000 after buying an additional 90,565,372 shares in the last quarter. Harris Associates L P grew its position in shares of Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock valued at $2,537,205,000 after purchasing an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Airbnb by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock worth $1,368,338,000 after purchasing an additional 47,966 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company's stock worth $917,845,000 after purchasing an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock worth $824,356,000 after purchasing an additional 216,455 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Company Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.