Airbnb (NASDAQ:ABNB) PT Raised to $130.00 at Morgan Stanley

Airbnb (NASDAQ:ABNB) had its price target lifted by Morgan Stanley from $120.00 to $130.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on ABNB. TD Cowen cut their price target on Airbnb from $180.00 to $170.00 and set a buy rating for the company in a report on Thursday, May 9th. Wells Fargo & Company raised their target price on Airbnb from $127.00 to $129.00 and gave the stock an underweight rating in a research note on Tuesday, July 9th. Mizuho raised Airbnb from a neutral rating to a buy rating and lifted their price objective for the company from $150.00 to $200.00 in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on Airbnb from $140.00 to $145.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Finally, UBS Group lifted their price objective on Airbnb from $143.00 to $157.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $152.50.

Airbnb Stock Performance

NASDAQ ABNB opened at $140.03 on Tuesday. The company has a market cap of $90.18 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. The stock’s 50 day simple moving average is $147.89 and its 200-day simple moving average is $152.14. Airbnb has a 1-year low of $113.24 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, equities research analysts anticipate that Airbnb will post 4.66 EPS for the current fiscal year.

Insider Transactions at Airbnb

In related news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the sale, the chief executive officer now directly owns 14,260,457 shares in the company, valued at approximately $2,083,167,558.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the transaction, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the completion of the sale, the chief technology officer now owns 207,574 shares in the company, valued at approximately $30,951,359.14. The disclosure for this sale can be found here. Insiders sold a total of 736,092 shares of company stock worth $109,519,936 in the last ninety days. Insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC increased its stake in Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after purchasing an additional 67 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Airbnb by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after purchasing an additional 68 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Airbnb by 1.6% during the 1st quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock worth $729,000 after purchasing an additional 69 shares in the last quarter. Farrow Financial Inc. raised its stake in shares of Airbnb by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares in the last quarter. Finally, Heritage Wealth Advisors raised its stake in Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.