Citigroup Issues Positive Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price target hoisted by Citigroup from $135.00 to $158.00 in a research report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently commented on ABNB. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday. The Goldman Sachs Group decreased their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group lifted their target price on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus target price of $139.31.

Airbnb Stock Down 2.3 %

Shares of ABNB stock traded down $3.11 during mid-day trading on Monday, hitting $134.29. The stock had a trading volume of 760,725 shares, compared to its average volume of 4,480,285. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s 50-day moving average is $129.54 and its two-hundred day moving average is $137.20. The firm has a market capitalization of $86.16 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 33.36% and a net margin of 16.96%. During the same period last year, the company earned $2.39 earnings per share. On average, analysts predict that Airbnb will post 4.07 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now directly owns 192,244 shares of the company’s stock, valued at $26,016,380.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in Airbnb during the first quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Airbnb during the third quarter worth about $25,000. Hollencrest Capital Management boosted its holdings in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Airbnb during the 2nd quarter worth approximately $28,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb in the second quarter valued at approximately $30,000. 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.