Investment analysts at Rosenblatt Securities assumed coverage on shares of Airbnb (NASDAQ:ABNB – Get Free Report) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $220.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 20.07% from the stock’s current price.
A number of other brokerages also recently weighed in on ABNB. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a report on Friday, August 7th. HC Wainwright raised shares of Airbnb to a “buy” rating in a research note on Monday, May 4th. Citizens Jmp lifted their price target on shares of Airbnb from $170.00 to $190.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Wells Fargo & Company upped their price objective on shares of Airbnb from $181.00 to $186.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Truist Financial raised their target price on Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.07.
Get Our Latest Analysis on ABNB
Airbnb Stock Down 3.3%
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data 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. The company 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 revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. Equities analysts forecast that Airbnb will post 5.23 earnings per share for the current year.
Insider Activity
In other news, CEO Brian Chesky sold 200,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the completion of the sale, the chief executive officer directly owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 531,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the completion of the sale, the insider owned 171,370 shares in the company, valued at $29,888,641.70. This represents a 75.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,335,437 shares of company stock worth $377,247,531 over the last three months. 27.21% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Airbnb by 13,162.3% during 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 during the last quarter. Harris Associates L P raised its position in Airbnb by 21.0% in the 4th quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after buying an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 47,966 shares during the last quarter. AQR Capital Management LLC lifted its stake in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock valued at $917,845,000 after acquiring an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after acquiring an additional 216,455 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.
Key Headlines Impacting Airbnb
Here are the key news stories impacting Airbnb this week:
- Positive Sentiment: D.A. Davidson raised its price target to $220 from $175 and reiterated a Buy rating, citing rapid growth in Airbnb Experiences and a partnership with Viator. Tom White Raises Airbnb Price Target to $220
- Positive Sentiment: Experiences listings in tracked cities increased about 30% in three months, suggesting Airbnb is gaining traction beyond its core lodging marketplace. Airbnb Stock Slips as DA Davidson Lifts Target
- Positive Sentiment: Wall Street analysts are increasingly optimistic that artificial intelligence, Experiences, and other new growth initiatives could reduce the valuation “overhang” on ABNB. Analyst Sees Overhang Lifting on Airbnb’s New Growth Businesses
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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