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

Key Points

• Robert W. Baird raised its price target on Airbnb from $150 to $160 and kept an “outperform” rating, implying about 9.9% upside from the current share price.
• Wall Street remains broadly positive on ABNB, with a consensus rating of “Moderate Buy” and an average target price of $158.36 across multiple analysts.
• Airbnb’s latest quarter topped revenue expectations but missed on earnings, reporting $0.26 EPS versus $0.31 expected and $2.68 billion in revenue, up 17.9% year over year.

Airbnb (NASDAQ:ABNB - Get Free Report) had its price objective lifted by equities researchers at Robert W. Baird from $150.00 to $160.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 9.92% from the company's current price.

ABNB has been the subject of a number of other research reports. Scotiabank began coverage on shares of Airbnb in a research note on Monday, May 4th. They issued an "outperform" rating for the company. Needham & Company LLC initiated coverage on shares of Airbnb in a report on Monday, May 4th. They issued a "buy" rating on the stock. HSBC downgraded shares of Airbnb from a "hold" rating to a "hold" rating in a research note on Monday, May 4th. Tigress Financial reduced their price target on Airbnb from $200.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Finally, Citizens Jmp boosted their price target on Airbnb from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.36.

Airbnb Price Performance

NASDAQ:ABNB opened at $145.56 on Monday. Airbnb has a twelve month low of $110.81 and a twelve month high of $147.58. The firm has a market capitalization of $87.73 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average price is $137.36 and its two-hundred day moving average price is $132.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Equities research analysts expect that Airbnb will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 88,366 shares of Airbnb stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $145.81, for a total transaction of $12,884,646.46. Following the completion of the sale, the insider directly owned 12,370 shares of the company's stock, valued at approximately $1,803,669.70. This trade represents a 87.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the sale, the chief executive officer owned 11,206,389 shares of the company's stock, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,005,339 shares of company stock valued at $273,061,091. 27.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently modified their holdings of ABNB. Harris Associates L P increased its position in Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock worth $2,537,205,000 after acquiring an additional 3,240,477 shares during the period. Geode Capital Management LLC boosted its holdings in Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock valued at $1,368,338,000 after purchasing an additional 47,966 shares during the period. AQR Capital Management LLC grew its position 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. Clearbridge Investments LLC increased its holdings in shares of Airbnb by 3.7% during the fourth 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 period. Finally, Independent Franchise Partners LLP increased its holdings in shares of Airbnb by 23.6% during the fourth quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company's stock worth $698,452,000 after purchasing an additional 981,624 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

About Airbnb

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.

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